The effect is felt here in the Philippines as well -- my Internet connection was down the whole day. When it finally was up again, browsing Web sites hosted outside Asia is a pain.
I pinged channel9.msdn.com to see how responsive it is from here.
It's been a while since I was in Manila, does PLDT still have a monopoly over telecommunications? (and has ADSL been rolled out yet?), I used to be in Makati.
From my "personal observations", PLDT still dominates the telecom market here. It's pretty much PLDT vs. Globe Telecom (the 2nd placer) here. ADSL is here (I am on ADSL btw), and is getting cheaper and cheaper (PLDT's and Globe's home DSL service is now at only ~PhP1000/month).