Peer to peer optimizations

So we discussing bout p2p, Is it really possible to optimize p2p game?
Lastly in 2006-07, i played a gunz server [LevelUp gamers gunz] , we had maximum ping over 25-30 and minimum like 8-10 , in radius of 2500 kms of country. Nowadays i dont see such big modification even after open source release, any experts have any idea bout this?
Unfortunately Gunz is dead, but still i m interested to know answer for this question.

-Excuse my grammar lol

You can't change latency, period.