Yeah, when you have a ton of people in a match, there is some serious lag. Haven't tried an 8-man, but even a 1-on-1 with 3 managers is a bit rough.
That being said, my random Universe set up Seth Rollins vs. Killian Dain, so I threw in Nikki Cross, Sawyer Fulton and Alexander Wolfe as managers (Eric Young is in a match later in the show). Holy crap it was fun. I was playing as Rollins and Cross kept distracting me, giving Dain some good offense. Everytime I would hit Dian with a big move, the ref would get distracted or pulled out of the ring. Finally had to take out Wolfe, then hit Dain with my finisher to win. Felt like the exact story I was trying to set up - that while Rollins wants to "burn it down", SAnity are the real anarchists.
Like the little feature where if you are close enough to the ropes, it will let you press "O" to put your foot up.