The current pre-release of the client ("pioneer" in the version) is only compatible to itself. So you can only play with other testers. Please be aware!
Anyway to see players ping?
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As the title reads. Specifically when creating games.
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While you are in the lobby, it shows you when other players have bad ping. It won't show you anything when their ping is decent. It's one of the bars next to the players' names. (The one labeled "Ping.")
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FA will run fine with any ping below 500, assuming that the connections are otherwise stable.