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Keep in mind that sometimes, wrong estimations can be a result of a busy or unstable Internet Connection. If your connection is busy or unstable, Steam will probably miscalculate the ETA because the download speed is varying.
Other apps also consume or require your Internet Connection, including, but not limited to, your antivirus (downloads updates), your operating system (downloads updates and upgrades) and even your web browser.
Cheers!
Up to your router, yes, but you share the internet with billions of people who also want to use the same cables, hubs, routers, repeaters and servers at the same time as you.
You don't have a direct cable to everything out there. It is all shared and congestion can happen at any point or someting can break and it takes a moment to find a new route to the server. Many things can influence the speeds you get.
As I am not sure what speeds your ISP advertising, I can't say what to do, but 4 MBs isn't that bad, though it may take a bit to download. I've left my computer on over night to download things in the past and that was on a slower connection then 4MBs.
http://www.speedtest.net/
Test your speeds there.
I'm only talking about the estimated time for the download before it starts.
If you get the correct speed, you're good.