Latency no longer a problem in Diablo 3 combat?

Diablo Beta testers have been doing some investigation into the combat in Diablo 3 and how it functions and have come up with a few suprising findings.
One of the big gripes with Diablo 3 has been the online only requirement but it appears it will not have as big an effect on gameplay as players initially thought.
After some investigation it appears that Blizazrd has come up with a way to eliminate latency issues in combat by using a new method of client/server communication that provides a secure and tamper-proof method of using the local client to handle its own calculations, while sending the data to the server for verification. The Client doesn’t require the server to respond, hence removing Latency from the equation.
This is huge news for players in regions such as Australia who suffer from latency issues in most of Blizzard’s titles due to the location of the servers for Australian players.
There is an on-going dicussion on these findings on Diablo: IncGamers along with further video proof on how this functions.