Well my team isn't specialized like some people have been trying, as my only steel type is Metagross or Heatran, depending on which I feel is the better lead at the time. It seems like Jolly Choice Scarf Flygon + CB Heracross have been wrecking most of the Latios people have been using, whether it be Life Orb or Dragon Dance. I think the best dragon ATM is Flygon, taking pretty much nothing from residual damage and revenge killing the other dragons. My team is: Flygon, Heatran/Metagross, Latios, Magnezone, Rotom-W, and Heracross. It seems to work extremely well, since Scizor = free switchin for Rotom-W, and this leaves my opponent thinking he is my steel killer, until they find out I have Magnezone waiting. This combination is extremely useful for all of those damn 3 steel teams.
BTW, Veedrock, what is wrong with having to let something die to find out a moveset? Does Salamence not do that now? Just because you don't like it doesn't mean it isn't the best for the metagame.
Anyways, I personally have not had any trouble with Latios, and when I win my games(I am 16-5 so far), I have used Latios once, and in that one time it died anyways. Latios is really not that powerful, you just have to predict around it a bit. Keep in mind that random shit like Calm Empoleon w/Surf, Roar, Rest, and Sleep Talk are 100% counters to special variants, phazing away any boosts and resting off the damage. A Choice Specs Modest Latios's Draco Meteor does 36.29%-42.47% to 252 HP / 252 SpD Calm Empoleon. Seeing that, mixed variants have 4 moveslot syndrome, so you can just send in your steel to estimate their EV spread and figure out if they have physical attacks.
Overall, I think Latios is extremely easy to handle, and I would actually say that Latias performs better overall in the OU metagame, whether it be support or a Calm Mind set. The one thing Latios has going for it is higher attack, but it can't beat Blissey 100% of the time meanwhile Latias can through either Refresh, Psycho Shift, or Safeguard. Latios can do these to, but he takes far too much from Bullet Punches and he doesn't enjoy eating special attacks without a boost.