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Cogent from usa to europe is pretty close to abysmal at times since their transatlantic links are saturated, ntl to usa over cogent goes uk -> germany -> france -> usa as one example of bad routing
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I generally find them pretty good, apart from the NTL peering problem a few weeks back, since then they have been rock solid, I can pull my full 3 meg from them in one thread from my own servers and others quite easily again.
I can't say I've seen my routing go via mainland europe, but even if it does its still fast here currently...now I've said it !
They are cheap, and to a certain degree you get what you pay for, but by and large they seem ok.