As for lag, try this site: http://www.cloudping.info/ or this site: http://www.pingtest.net/
Look at the ping to a US East Coast server
0-50 ms: Great. No problems whatsoever
50-100 ms: Generally no problems at all. Maybe some very minor glitch occasionally
100-150 ms: Can still game just fine. Expect an occasional attack to miss if you have a character with high attack speed
150-200 ms: It’s more than doable, but it won’t be the smoothest experience. But stilll no real problems
200-250 ms: Lag becomes noticeable in several places. If you can tolerate it, you can still game, but you’ll notice it
250+ ms: It’s getting difficult to game really well
Remember that network activity (for example, downloading things, especially torrents) affects your results. It’s best to test (and to play) when nobody is using your network very actively