So far build 16 has been perfectly smooth for me, even on high pinging servers (though I haven't played on them much). I played on graffiti for about 2 hours straight last night and did not encounter a single trip or glitchy movement. It was fairly frequent in build 14, though (even running the game locally). I would appreciate it if people having these issues could record some demos as well as keep an eye on their ping and netgraph for packetloss and keep track of which server it's on. I've noticed some people are still using build 14, so there will naturally be complaints from them. You might consider setting sv_minclientbuild to 16 to filter out those complaints as they could be blowing the issue out of propotion (plus it will force people to give feedback on build 16 so it can be improved in future versions).
Increased warping might be due to older machines not being able to handle the new player models and reflective water. Those might also be what some of the other complaints are about -- people not able to distinguish between network lag and poor framerates. People using different builds than the server will also likely cause warping issues.
I still need to work on making the time discrepancy check able to decipher between lost packets and hacked clocks (speed cheats). It can be tweaked with sv_enforcetime, though. Setting it to 0 will disable the check completely.
BeviS: What client are you using?
As for the server builds, 140 is the official release, 141 is the patch for non-sse servers (non-sse servers can cause the lag and tripping you've described, so if you're playing on a 141 server, that might be the reason -- nothing I can do about that, the math is just different). 142 had some special cvars added for pbcup, but nothing that changes gameplay.