I’ve lost track of the number of times ISPs have lied to us about the download speeds they offer us. Novice users can also get confused about the difference between Mbps, Kbps, MBps and KBps (for the record, Mbps is mega bits per second, and MBps with a capital B is mega bytes per second. Mega bits has a value eight times that of mega bytes per second).
Speedtest.net is a funky place to know your true speed. It calculates ping time(in milliseconds), upload speed and download speed (in Mbps).
Just visit the site, and wait till Speedtest.net automatically detects your nearest server. Click on the yellow pyramid to start the test. The coolest part of the test has to be the speedometer.
Also, something really great is that based on the download speed, you also have an idea about the time it will take to download a particular movie or song. Also, you can copy some direct links (to images) and forum links (for embedding) to boast about your download speeds, especially if you have an internet backbone connection (whoever’s got that, I envy you. Just wait till you see my download speed).