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I had the first Cogent light on the west coast. Through it all I feel Cogent has become better and they have a huge task to undertake peering with other carriers who would prefer they disappear.
You can't turn a supertanker on a dime and sometimes there are outages and particular peering arrangements fall through. However when there is a technical issue rather than a business dispute they usually get things patched quickly.
These days in a multihomed environment you can choose your connectivity. I would say from experience that someone who can tolerate 6 hours offline every year would probably be served appropriately by Cogent. If he pays three times more he can cut that to 2 hours yearly. If he pays much more for ecommerce or financial services he can cut that to almost zero.
Lowdown is that Cogent tends to be the choice for Adult where companies need to control their costs or startup. With multihoming the issue is vanishingly small compared to say 1998 when 5% data loss and 5% downtime was the norm.
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