Okay, let's review.
He says they're still investigating the lag problem, and then a few hours later he says the patch is complete and is undergoing certification?
I don't know about ya'll, but this tells me the problem isn't going to be fixed in the update...
Or it could just be bad communication. Pete isn't on the ground floor for whatever happens inside of BGS. He was just trying to do damage control.
There is also the possibility that its a simple error that was overlooked, which caused crippling damage, and could be easily fixed. I'm pretty sure we've all had one of those moments before when troubleshooting our PC's. After 3 go around's with the PS3, maybe BGS finally knew what to look for.
Here's to hoping for the best. May the best bring us peace of mind.