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Thanks for your answer.
It's not limited though, I've checked the settings and it's set to no limit.
You're not alone buddy.
Have the same issue with a 500K Connection from Vodafone Germany.
if you actually have a bit beef on your connection, for Steam doing the opposite helps more ... you move away from your location with the download, that circumvents local node congestion. download from the other side of the planet. the only thing that is slower is the ramp up of the download.
I've uninstalled Steam now and reinstalled it with a fresh installer from the Steam site and it seems like that might've fixed it for me, downloading at up to 6 MB/s (Telekom Germany) again. It's looking good so far and I'll write again later when I'm sure.
Thanks for your support guys and I hope this helps you and other people who might've encountered this problem :)