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I've heard different terms advertised for connection speeds . What are common ones today and what do they mean?

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Common download speeds with DSL are 1.5 Mbps, 3 Mbps, and 6 Mbps Some cable companies now also offer speeds like 10 or 15 Mbps. These speeds are expressed in "mega-bits per second" (Mbps).

Here are 2 articles that explain this nicely:

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The speeds usually advertised are in megabits per second (mbps), the download speed you will see in a browser is that number divided by 8 (8 bits in a byte). If you see a connection advertised as 8mbps, you could (theoretically) download files at 1mbps, if there were absolutely no interruptions on the line, although you'd probably end up getting < 950kb/s as lines aren't perfect. With DSL connections, usually the further you are from the distribution center the worse your performance. A DSL company may advertise "up to 5mbps" (625kb/s) but that is under perfect circumstances, depending on where you are situated in regards to them. There is no guarantee you will get that speed.

For a detailed description on different types of connections, this article has it fairly well covered.

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    Great answer, Zoran got the check first though... +1
    – Moshe
    Dec 20, 2009 at 0:02

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