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.