The problem is, Europe-based hosting won't really do too much for gameplay. The ping will remain under 150 but above 110 for most people, and this is an acceptable range and won't have a noticeable effect.
Competition, on the other hand...
That's different, but you're not going to do it with false or warped information.
The OP is technically true though, although is speed difference is generally negligible. I didn't write anything of it though.