250-300 ms is perfect. these days people can get away with raiding on 400ms as well, specially as a caster. the game is really easy and more forgiving now. back in the day tanking used to be a nightmare on pakistani latency because lag could mean a delay in agro resulting in dead raid members/wiping or even having a hard time keeping up with threat. even as a caster i had to resort to a latency casting bar mod to time my casts in order to churn out competitive dps. they have implemented new input/button spamming mechanics so all that is a thing of the past.
30+ fps is pretty acceptable in raids atleast, even on messier boss fights. anything below is risky, as you might find yourself stuck in the fire when the fame rate drops due to aoe etc.