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I was going to disagree and say it's worse south bound.
Are you coming e&c direction?
I seem to miss most of the busses going from oval to Kennington lane (towards Waterloo) and think being separated from the traffic going that way makes sense as it's rammed that bit of road.
Coming back I always end up in traffic as the bike lane is too small and windy and shoot you out into the road far too suddenly.
This is true. The southbound one funnels you nice and gently into the ASL outside Oval station.