In my experience in games of all sorts, 200ms is pretty much the cut-off point for me. Any more than that and the delay becomes a bother to me.
But thinking 0.2 seconds ahead in a game like LoL is not particularly difficult.
Admittedly pro "in-the-nick-of-time" super-combo-perfect-timing plays are close to impossible at that ping. But then again, I'm not trying to be pro, just to have some fun.
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