it's a very good game, especially the team orientated gameplay. a unique experience and you can't afford to miss it, unlike MW2 which is just a drag queen version of counterstrike.
bad company 2 does suffer from sluggish netcode. you really get the impression that this is unavoidable due to the sheer scale of the battle, however the frustratingly unresponsive server browser is unforgivable (all battlefield games are suffer these problems).
the rubbish server browser actually caused me to quit battlefield 2. try to do anything, for example scroll down the list, and occasionally the whole thing will freeze for 30 sec or more - by which time you're thinking "f this, i wanna play TF2".
as far as multiplayer FPS games go, team fortress 2 is unbeatable imo. looks absolutely beautiful and clear and really hilarious to play. no lag, perfect netcode, excellent balance and gameplay. it's an absolute steal at anything less than $50.