To me it seems that the guy who has the crap connection gets the drop on the guy with the good connection. I don't care for the lag compensation system at all.

I remember the good old days where the guy with the bad lag was the one that suffered  and not the guy with the good connection, who now suddenly dies 3 seconds after he goes around the corner because he was shot by the dude with the crap connection.

If im not mistaken, most if not all COD multiplayers of the past have some type of lag compensation.  For me, it was barely noticeable in MW2 and just a little more noticeable in Black Ops.  In MW3 however, its making the game literally unplayable.  Just look on youtube and you will see that this is not a PC only problem, but it seems to bee affecting a smaller number of people.  I hope it is possible to revert to a less extreme lag compensation system because its literally preventing me from having any amount of fun with this game.

Yeah artificial lag is always worse then natural lag.  The game actually reports false player positions to you and purposefully holds back packets a set amount of time while a player who is lagging due to a poor network connection will effect all aspects of his game.

I've seen players shooting at me before they turn the corner because lag comp is reporting their position a few steps behind where they actually are.  On their screen they see me and start shooting but I have yet to see them due to being "compensated"

Shooting at a player 1v1 scoring several hits and taking no damage, no flinching, no red screen but several hit markers and then *poof* dead.

I've also had a lot of deaths by what I call "rubber knife syndrome"  where I hit what should be a clean knife but get nothing.  I've even lunged directly into somebody before and my player was physically stopped by their body but no kill.  I died and the kill cam showed me flying right past them and you also see so many knives that kill without EVER making contact with the other player.