Wasn't too bad - still some occasional lag when adding/removing blocks, and I think always lag when interacting with animals, but my connection has been a bit crappy tonight so it may well be that rather than your end.
Heh, I always carry a bucket full of water in slot 8 any time I might be near lava, so I can quickly douse myself.
Or at least, I did when I actually had buckets, before I got dead and lost them all, along with all my iron and gold and compass and redstone and everything. :(
Actually a bit confused, since I can't remember how I died now... was digging a shaft and thus at the bottom of it, so how the hell did I fall and go splat? Unless I got lagged into the air or something.
Anyway! Ant - enabling the /back command would be a useful one, since there appears to be a frigging time out on how long equipment lasts when you die, which is annoying.