How Fast IsFast Enough On The Internet?

h2okies writes: CNET's News.com reports that the IEEE Will stat today to form the new standards for Ethernet and data transfer "The standard, to be produced by the Institute of Electrical and Electronics Engineers (IEEE), will likely reach data-transfer speeds between 400 gigabits per second and 1 terabit per second. For comparison, that latter speed would be enough to copy 20 full-length Blu-ray movies in a second." The IEEE also reports on how the speed needs of the internet continue to double every year. Of what consequence will this new standard matter if the last mile is stillstuck on beep & creep?