That's low-end DSL.
Considering all the 3G drooling that's going on, I predict that people will be disappointed with the speed once the 3G iPhone comes out, because (1) 3G is still slow (much better than EDGE, but still slow), and (2) the iPhone's processor is slow (and I haven't seen any rumors regarding a processor speed increase).
I have a somewhat fast DSL line (6.0mbps down, 600k up) with wifi, and I think the iPhone is only marginally usable in terms of speed (wifi, of course). Since AT&T's 3G is significantly slower than my DSL line, I'm definitely not excited about 3G (and please note that AT&T's 3G coverage is significantly less than EDGE).
Of course, there could be other features in the new iPhone that'll make me drool, but 3G is nowhere on my list.