Does size matter?

I am finally caving to my children and getting internet, but I know next to nothing about this. I signed up for AT+T through Directv at 8 mb but received a phone call saying I cuold only get 1.5 mb. I bought Netgear for a router. Is this enough to run an aging Mac, an XBox, a newer laptop, and a fair-older hp laptop?
I know everyone is going to be downloading movies, and gaming all at once.
signed -- single mom with small picket book.
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More about does size matter
  1. 1.5mb will be slower if everyone is using everything at once. Downloading will be the biggest hits.
    It will do the job but probably less than ideal. Though, this is a good time to teach how to compromise.

    Streaming movies over Netflix will be more than enough. Gaming and downloading will suffer.
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