People should try to understand the difference between bandwidth and latency.
I've found an analogy to a car is a simple way to help people understand.
Bandwidth: This is how big your car is. High bandwidth is like driving a huge truck. You can load a whole bunch of things up at once.
Latency: This is how fast your car is, measured in the time it takes to get between two places (so lower time means a faster car)
So you can think about most web usage like picking up groceries from the store.
Driving a huge slow 18 wheeler is a waste: you're only picking up a few groceries, and it will take a long time to get to the store and back.
Driving a tiny fast corvette is silly, because even though you get there real fast, you're going to have to make three trips to fit all the groceries in the car.
What most people want is good all around car - Big enough to haul what you need, fast enough to not feel sluggish doing it.
Some things work better with the fast car (playing games, video chat, streaming songs)
Some things work better with a big truck (downloading games, streaming HD video, moving large files)
But you have to pay attention to both.