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as for non-steam games and general, yes as the internet bandwidth is shared by all active programs and games that use internet
In short: Yes you will get lag, and Yes downloads could get slowler though steam does seem to take priority when downloading.
Hope this helps.
But yes, OP, you will get some more lag while you are downloading. It'll be worse towards your online play more than your download, AFAIK, since online play actually doesn't need a massive amount of bandwidth.
And if you play an Offline Game, then no. It won't affect the download.