No.
The general usage of data speed is in 'bits' per second. There are 8 bits in a byte. So while we refer to, for example, a floppy disk as "one point four megabytes capacity", we refer to DSL as "one point five megabits per second." In general, people use a lower-case 'b' for bits, and an upper-case 'B' for Bytes. Then we have "Mega" versus "Kilo". Kilo, in usual computer-speak means 1,024, while Mega means 1,048,576 (1024*1024.) Theoretically, both the K and M should be upper-case, as in SI prefixes, all greater-than-zero prefixes are upper-case, and all less-than-zero prefixes are lower-case. But in common usage, people often lower-case the K.
So, for example, my speed tests of my home cable connection show about 20 Mbps. This is Megabits per second. Or 20 times 1,048,576 bits per second. Or about 20,971,520 bits (ones and zeros) per second. If we convert this to the more commonly-used in storage terms "Bytes", then we divide by 8. So 20 Mbps is about 2.5 MBps. That means I can transfer the contents of a standard 1.4 MB floppy disk in a little over half a second.
Dial-up internet tops out at 56 Kbps. 56,000 bits per second. Not bytes. Current EDGE is about that same speed. HSDPA can reach theoretically 7.2 Mbps (bits, not bytes.) Or a little less than half my home internet connection. But, as you have mentioned, AT&T only lists about 1.4 Mbps. Which is about the same speed as your average DSL connection.
But, as another post of mine mentions, EDGE, HSDPA, and E-HSPA all have fairly high latency. While my cable internet has latency (ping times) of about 40 ms to most places in the US, my EDGE connection gets about 200-300 ms. Which is about the same as dial-up internet. From tests I have seen, HSDPA and E-HSPA are about equal to EDGE. So while the raw data transfer is fast, the latency is slow. This means that playing 'twich' shooter games would be difficult. (By comparison, the worst 'standard' type of broadband internet connection, as far as latency goes, is satellite, which suffers from the half second (500 ms) speed-of-light delay getting to geostationary orbit and back.)
