Myself and 3 friends are trying to play together but one guy has a crappy connection. We'll call him the slow guy.
The slow guy runs on a 100KB/s down and 50KB/s up ADSL connection and the other 3 of us run on a nice LAN (0-1ms ping). All of us have awesome computers.
The server is hosted on 0.12.30 with the "Use Peer-to-Peer Communication" option unset with a latency of 133. Slow guy actually has OK ping.
Here's why I think this is a bug:
The slow can play with any one other person but when there are two people he runs out of upload bandwidth. The game uses about 4-7KB/s when there is 1 other person but magically exponentially increases to cap him out with 2 people.
The increase in required bandwidth isn't immediate (as would be expected if it was just him syncing events with the server). Here is an image of his upload (as a client), me as the server, and one other person after a couple of seconds.

Here is an image of the upload bandwidth usage with just myself (the server) and him.

We didn't catch an image of it (the other 2 guys playing tonight were kind of mad that they had to wait while Slow Guy downloaded the map) but Slow Guy was uploading an additional 20KB/s (per connected player) when downloading the map.
Here is an image of him downloading the map with only 1 other person vs watching a youtube video. The video is on the left and the map download is on the right.

There was an additional 20KB/s upload per person already in the map. This seems unnecessary as he only has to sync with the server.
So that's why I think it's probably a bug.
TL;DR. Slow guy has to sync SOMETHING with every player already in the map (instead of just the server) even though the game is paused during downloads and peer-to-peer communication is off.
Slow guy also gets DDOS'd by exponentially increasing bandwidth requirements when peer-to-peer communication if off indicating that he is receiving data on a per-player basis instead of on a per-event basis.
This issue also happens when peer-to-peer communication is on but it is something to be expected with peer-to-peer communication.
I can provide saves and logs but it might take a day to get the group together to get more logs.