It seems that there are more than a few people with this issue. My story is very similar to a number of descriptions above. Until this patch, I was able to play just fine, with no latency issues on all my toons. Since the patch I have experienced exponential latency the longer I'm logged in - until I am unable to do anything in game except re-start my computer to get the client to shut down. Today's test was the worst yet (6/6/2013). Today I was able to log in, select toon, and wall around station, look at inventory and even change out a module (although with slight 3-5 second latency). Unfortunately I was not able to leave the station and hung up in un-dock for about 30 minutes (while I surfed through the forums) before deciding to restart my computer, yet again, to get out of the client.
Totally understand the Dev testing, updating, installing thing. I'll continue o keep checking to see if this issue has been fixed. I waited 10 years for this game to come back - I can wait a little longer for this issue to get cleared up.