I'm using my Obi 200 with a high latency satellite connection of around 650ms and it seems to work fine, but with a little bit of lag of course. Was wondering which audio codec would be the best in my case. When I set up the Obi I didn't mess around at all with the expert configuration settings, so I'm guessing it defaults to one one of the newer codecs.
None of the OBi's available CODECs will solve your problem. They were all developed before wireless networking, and none of them can do anything about high latency. Some use a lower bit-rate, but that's it. It's the old "lipstick on a pig" problem.
You're welcome to experiment, but you'd better buy a few tubes of lipstick.
Guess I'll just leave the codec settings alone.