FWIW I'm averaging 20MB down and 10MB up with an average of 70ms of latency on my LG USB stick.
However, there are several variables to consider:
1. Network speeds/latency
2. CPU performance
3. GPU performance
4. Memory
5. And in web pages: rendering speed
There are theoretical limits to what the phone can process regardless of network performance. The government could raise the speed limit on freeways to 300 miles per hour and most cars will max out at 120 or so. We'd also start burning through gas faster even though our tanks haven't gotten any bigger - which is a similar issue that we're having with battery technology. People also talk about the speeds being reported today as being inflated due to an under utilized network. Back to the freeway analogy, when you start adding traffic, it slows things down because there are more people sharing the same resource.
There was a similar phenomenon when service providers started rolling out DSL service to its customers. Everyone benefited from increased network performance, but to truly take advantage of those speeds, you needed beefier PC's that could process and display pages faster. In fact I remember my moms PC still felt like it was using dialup compared to the PC I had built. In fact there have been several phones in my past that I could tether to my laptop and load pages faster than I could through my phones web browser. With my current phone, I am now at a point where things are about even.
It reminds me of how smart kids have become. I could get online and order the same two 1,000 piece puzzles for my teenage nephew and I. I could choose next day delivery for myself and 3 day delivery for him. I hate to say it, but he'd still get his assembled faster than I could. Just like network speeds, delivery was fast, but you had a slow poke called Cory that had to process through it.
Same thing with that stupid matching game where you have 50 pictures turned upside down. Each player turns 2 pieces over at a time. The goal is to remember as many of the pictures as you can, so when your turn comes up, you can start matching. The person with the most matches wins. My nephew wins everytime.
One could also conclude that I'm just a stupid idiot, which is also a labelling I'm willing to accept.