You are correct - it doesn't matter what order they happen in, although I think that the local node writes data and then it gets mirrored to the remote node. And yes - as in any synchronous mirroring operation your latency is influenced by the single mode fiber connection and switching overhead. I can tell you from personal experience with MetroCluster - it just works, and the latency is not an issue, even in special testing beyond the established technically supported limits.
If you don't care about synchronous writes then asynchronous snapmirror would do the job nicely.
Cheers
Jeff