This is obviously a pretty substantial bummer, considering the Borderlands series is built on being able to join your friends. While Gearbox and 2K still have yet to officially acknowledge the issue, one of their forum moderators has let concerned users know that the developers are aware of the problem and working to fix it. Seeing as how fixing netcode issues is akin to deciphering a passage of the Voynich manuscript, it's tough to estimate when a solution will arrive. Nevertheless, it's good to know that the connectivity problems won't last forever.
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This remastered version of the game includes a number of enhancements and tweaks: