Yes, the CL 4 stands for CAS Latency 4 which is BAD. The lower the better. The Latency consists of 4 numbers as previously mentioned. The first one is the column access time number, the second one is the time to switch between memory banks, the third is the time to prepare for output and the last is time for row access. (The last one you usually want it to be set at, at least the first number + the third number + 2) For the 4th number, lower is NOT better.
In short, stay away from CL4.