First off, I also managed better from that server on my 1024/384 DSL line through my laptop’s wifi about 30 feet from my router (strong signal).
I agree with @DVSAZN that testing it with a direct connection if you are using wifi; interference and/or weak signals can do bad things. However, the disparity between the upload and download speeds is something that I find odd. I would expect a connection with that sort of download speed to at least have an upload speed that was better than dial-up! At that download speed, I would expect the same upload speed I have; about five times what you have.
Unfortunately, since sending a page request requires uploading that request, your connection will suffer overall, especially if you load multiple pages at a time since that involves multiple requests. (I’m not talking about just multiple tabs open at one time: I am talking loading multiple pages simultaneously).
Another thing is that if you are running any sort of P2P file sharing, your connection will go to shit in a hurry. Whenever my roommate is torrenting, it clogs the upload side of my connection so bad that page requests from my computer time out; it effectively cuts me off even if he is not actively uploading because of the way the P2P programs work. Even uploading an e-mail attachment pretty much shuts me down from surfing momentarily despite having an upload speed five times faster than yours.