That's the other truth here.
Australians won't be able to have any kind of decent fight with people in the states. Hell, even folks from Canada might have a hard time with people in the states.
And I think we'll be lucky if people on the east coast like me will be able to have an acceptable match with folks on the west coast.
I've been learning about networking in gaming and world states, clients and servers, etc. and the amount of data required for a SSBB game online with four players is going to make it DAMN difficult to play. The real issue is that, unlike Mario Strikers where you have a general range of where everything "should" be according to the server, SSBB is going to need pinpoint accuracy to determine how moves have gone off, if they hit, etc. With hitboxes being the way they are, a mere 1mm of offset can cause the whole game to desynchronize if the server sees it and the client doesn't.
Like if Fox goes to kick Wario as Wario is moving toward him and the server sees that Fox's kick landed. However, the client didn't see Wario begin moving toward Fox until 10ms later, and in the extra 10ms that Wario wasn't moving, Wario didn't get close enough to Fox for the kick to land and now the server and client are seeing different game states because one says Wario got smashed and the other does not.
Like Darknight said, good online matches are likely to be pretty rare because online fighting games have more variables than any other form of game.
And yes, it's because of things like this which I believe SSBB will HAVE to be slower.