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ya...latency is directly affected by your up/down rates.
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No, theclam has it right.
Latency != bandwidth
To put it simply: Your dialup has roughly the same
latency as my cable internet (due to the speed with which electrical signals cross copper wire), but MUCH lower
bandwidth.
Your satellite internet has roughly similar
bandwidth to my cable, but MUCH higher
latency. (due to the fact that there's an extra step)
Your bandwidth really doesn't matter worth a sheep fart when you're only sending very very tiny amounts of information back and forth, as it is with online gaming.
-sam
DISCLAIMER: Not totally accurate, but it helps to explain why satellite's slower with online gaming but faster with downloading stuff. Cable internet has much lower latency than dialup, but... let's use a diagram!!
LOW==============LATENCY==============HIGH
CABLE..............DIAL-UP.............................SATELLITE
Cable's fastest, satellite's slowest! Yay diagrams!