Is it important, yes. That is a good ping time. Of course that is also dependent on where you are located. If you are hosted in another contry, a slower ping time can still be ok. What you need to take into account is location.
I would say ping time is not that important. Ping, in most cases, is just a measure of distance. If you are in the east coast, your ping time to a west-coast server may considerably be higher than your ping time to an east-coast server. Traceroute together with ping and download speed test will tell you a great deal more story about a network than just a mere ping. Also, use ping plotter to continuosly monitor/ping a network for days to see the network's performance during those days (peak hours, etc)
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