Keep in mind that speedtest is just an approximation, since it uses small files. Upload speeds are usually less accurate that download speeds. Also there is a certain amount of TCP/IP overhead.
I just ran speedtest twice and got an upload speed of 1.84 Mbps. Then I uploaded a 3MB file to Google Docs and got a steady speed of 0.246 Megabytes/sec. (1.97 Mbps) as measured by Windows Task Manager.
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