well since ive got some free time at work, ill explain it in light detail:
1MB (aka MegaByte) is the same as 8Mb (aka MegaBit).
A common misconception when buying an internet connection is that the 7Mb/s they advertise in commercials is the same as seeing 7MB/s in the down speed of your web browser, Limewire agent, or BitTorrent agent.
The truth of the matter is, its not. If you see DSL commecials advertising 1.5Mb/s Download, what they are saying is, your BitTorrent client will max out at 187KB/s.
I can feel it all sinking in now. Its a tricky ad scheme, and I do not know why they dont just advertise it for what it is. Companies that sell networking equipment do the same thing. The equipment is sold with a bit value, but every OS on the planet reads that speed in bytes (unless you are using a few specialty utilities).
So, if you ever wondered why your Wireless G transfer speed caps at around 6MB/s when its advertised at 54....now you know....and knowing is half the battle. GI Joe.