Does my internet speed match with the speed I'm paying for?

Hey guys,

Here is my speed according to www.speedtest.net



AND here is what I am paying for:

High Speed Internet
7.0 Mbps x 512 Kbps

I am paying $43.95 for it.

Now here is a little back ground:

-My 2 roommates and myself use the internet for Xbox Live, surfing the web, and watching a lot of videos.

-I have never seen my internet speed pass 1.51 Mbps while paying for 7.0 Mbps x 512 Kbps.

-The internet used to work very well a few months ago until my roommates wanted to cut back on cost and thought that the lowest internet tier our service provider offers would be sufficient for our use. We decide to cut it down to 1.5 Mbps x 256 Kbps. It was virtually impossible for me to play any type of videos that require the internet to load. So we bumped it back up to 7.0 Mbps x 512 Kbps. Ever since we bumped the internet speed back up, it has still been very slow. A lot slower than the last time I was paying for the 7.0 Mbps x 512 Kbps service.

-I called my service provider, Metrocast, and asked them if they could check out my internet speed. They said everything should be good, then ask about my router, which I had a 2 yr old Linksys Wireless G router. This router has never choked my internet speed before, but I decided I would go purchase a better router (Netgear N150 Wireless N for $70) just so I can prove that it's their service and not my router.

-The internet speed now is inconsistent too. It will be a little quicker during the morning and day, then at night it gets very slow. We have a good password on our wireless internet, so i know for a fact we are the only people using it.

Ill be calling them tomorrow to come out here and fix it. My question to you guys is

Should my speed on speedtest.net match to the 7.0 mbps speed I am paying for? and..

Is there anything else I ask the technician or rep.?

Hopefully they'll fix it and I can get a refund for the months prior.

P.S. When we try to watch videos, we always have to pause the video and wait for it to buffer. And when 2 of us get on Xbox live together or even separately the online multiplayer lags a lot.