Paradox has been patching Magicka hugely regularly, and the patches finally seem to have fixed the netcode. It's hugely disappointing that this astounding game should be so crapulent at launch; it has the best magic system Eurogamer has ever experienced, Pratchett-esque wit and immense variety. The arena mode alone is perfect fun, in a Team Fortress way, though it's crying out for PvP.
It's long, it's tough, it's huge fun, and it's cheap. But it will never be perfect.