So you know when you get some lag playing a game then go to speedtest.net to see what you're getting? And usually (at my house) i see anywhere from 2mbps down to 20mbps down.
It's worth noting that bandwidth is only one aspect of a connection. It's important when data flows mostly in one direction at a time (e.g. when you download a file from a server), or when the data streams are independent of one another (e.g. during VoIP, your voice and the other person's can flow regardless of whether the other person is listening).
For applications where the next transmission from A to B depends on the last transmission from B to A (e.g. most games), the latency is more important. Even if your connection to Mars was 1 Tbps, you wouldn't be able to play a game with someone on it because light takes several minutes to make a round trip.
i dont know what you guys are talking about. how my internet works is little dns fairies take the packets and travel via internal portals (ip) and then hourly type text piles (http) onto the screen.
*note: i couldnt think of anything better for http :(