On Virgin Mobile around Seattle, I have done a couple of tests with very different results.
65 kB/sec (d) 52 kB/sec (up) 99 ms (ping)
307 kB/sec (d) 106 kB/sec (up) 158 ms (ping)
307 kB/sec seems pretty decent, but in practice it absolutely does not feel like that. I can't stream 128 kbps music without constant drops, can't view an animated gif, and definitely can't view anything from YouTube. (My old Optimus V was the same way.)
I'd be curious what other people experience.
Of course, at $25/mo, this phone could give me eye cancer and I'd probably stick with it.