@doubledown: To be honest, the first good amount of your time will be spent during loading and watching other people play. Rounds are 6 minutes (soon to be 5 with the next patch). After you get pretty proficient and are able to last a while, this game will be awesome, I guarantee it.
Like smog said, it takes a few shots to die, but the same goes for other people. If you join us, I'm sure you can just follow someone to get used to the maps (they can get huge at times).
While I play this game, I usually have my laptop on standby, so if I do die early on, I'll just be browsing the internet or maybe do something productive (gasp). Yes, rounds are that long.
The internet play is fine, I really haven't seen too much lag, if at all this past week playing random games (quick matches) with or without the rest of the CAG clan.
There are some glitches, but I'm sure the developers are working hard to fix them. They released the last patch not long after the one before on account of a spawning glitch. This is probably the only PS3 game I've experienced so far with such frequent patching (I find this a good thing).
All in all, the game is very playable. Though it takes some time to learn the ins and outs of Socom, you'll be rewarded with a solid realstic team-oriented 3rd person shooter once you do.
On a similar note, I recieved the no sound glitch for the first time with my headphones on. I guess it can happen to almost anyone.