OK!
Went to the AT&T store and tested out my iPhone 5 to Get to the bottom of this.
5 bars - 27 Mbps down.
House - 2 bars - 6 Mbps max!
BUT
Here's the kicker...
I used my iPhone 4's stop watch to see how long it actually takes to render websites. Did some full sites no mobile.
I found that even though I am getting more Mbps at the AT&T store...
THE ACTUAL TIME IT TAKES TO RENDER WEB PAGES IS NO DIFFERENT!
Crazy. But at least I know it's not my device and don't need to get a replacement. And at least I know I'm getting great loading times even though I have less bars.
You have just proven what I have been saying for years. Other than for downloading files or streaming HD Movies your speed (and therefor LTE) makes very little difference. If you have a good ping most normal websites will render just as fast with 1MB down as with 100MB down. Normal web surfing and things like music streaming (Pandora etc) will make no difference at all if you have 40MB LTE or 1.0MB 3G. I'd rather have 1.5MB 3G with consistent day in and day out 50ms ping than 30MB LTE with pings varying between 100 and 1000ms for normal everyday web use.
Of course if you are downloading files to your phone or streaming HD videos faster speeds will speed that up. Other than that it's 98% hype.