I don't think it's global... the list shows me pings of 200+ in most European servers. Jumpy ping across multiple servers is likely a faulty connection... it might improve if you update your modem's drivers (if it has any, they might have been lost during your reformat). Also, you might want to try setting rate 25000, cl_cmdrate 100, and cl_updaterate 40 via console to see if your ping stabilizes at all.
Of course, make sure that the server you're connecting to isn't causing the problem. Ping is basically a measure of distance if you have broadband, meaning the closer the server, the better your ping; if the server is close, your ping will be more stable. Try sorting your server list by ping.