Seeing players green all the way until they start losing horribly and bam 3 players (fireteam) suddenly lag on and off...
I think that the combo of cheating & bad connection should be looked at as soon as its reported, not just flagged for later as it seems to be.
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My understanding is it's a cumulative thing. Reported once and they'll look at the game. Reported a couple of times and they'll look a recent history. Reported a lot they look at everything. I only report cheating if it's obvious (sometimes it is), otherwise just for lag. It's enough they'll look onto it. For blatant cheaters I report through psn as well.