Assuming the satellites are geostationary
That means a signal travelling between New York and Adelaide (about as far apart as you can get) is facing a hop of 35,700 km up to GEO, 132,200 km halfway around the Earth at GEO radius, and another 35,700 km back down, for a total of 203,600 km one way, giving a final round-trip distance of 407,200 km. With the signal travelling at c, that's a ping of 1.37 seconds. Given that there's currently approximately 30,000 km (allowing for all the convolutions) of cable between me and New York, my best current ping with the signal travelling at c would be 0.1 seconds. In reality it comes out at between 0.2 and 0.7 seconds depending on traffic.
I think I'll stick with the wires, thanks :)
