I live in Darwin, NT Australia, and I've never seen my ping below 220. I'm in a permanent state of "amber colour" status. As a full time jungler it's created it's own meta of champions that are viable to someone like myself, compared to the 20 - 100 ping Summoners.
Lee Sin is right out, Karthus (while some would say is a troll jungler anyway) is not even close to possible against any kind of counter jungling and to some extent without, Warwick's bloodscent taking that extra 1/5th of a second to go off can mean the difference between a successful ult/kill and none, etc.
Even the champion I'm the most skilled with (Tryndamere) has his issues. I have chosen Tryndamere by no accident. A lot of people in the low Elo bracket have been complaining that he is OP since beta; but in Australian only matches he is probably one of the best picks. I want you all to consider for a moment his ultimate. 5 seconds of not being dead while maintaining your ability to auto attack and chase the enemy carry. This ultimate is less effective on Australian's pings when compared to the lower areas because I have to pre-empt the incoming damage, rather than REACT to the incoming damage. Spin in, right click on the carry, wait a second, Endless Rage if I have taken any damage or CC.
If I were in California I could wait to see if they get through my 2000hp before hitting my ultimate and tear them apart for the full 5 seconds. But on my ping I need to hit it before to ensure I don't spin, die, then figure out what happened by reading the death recap.
However, when fighting other Australians, this ultimate is even better. Because when I spin in, they're probably already reacting to it, but it'll be 1/5th a second before they react, and then a further 1/5th of a second before they successfully cast any spells or attacks at me. However, I need to hit the Ultimate 1/5th of a second before the spells land on me and insta-gib my squishy anti-carry. However, they're still casting spells at me 2/5th of a second after I've hit my ult and are wasting their precious damage on me. Allowing me to shred Vayne into tiny pieces.
I hope my little example from personal experience gives you a general idea of how DIFFERENT the game is from our perspective, how such latency issues cause a different meta / game style of their own. Hell, I'm not sure I could even last hit with Karthus's Lay Waste (Q) on 20 Latency, I am so used to compensating for the latency.