Is 16meg, 2mb? Did not know that. Anyway, I have 9mbps cable with 1mbps upload. It's fast enough for me, I know some people have much faster internet, but it's the fastest residential internet here without going to fibre, which I don't think anyone provides here yet. As far as the cable is shared argument, I have the fastest plan they have, so it's on a different node. There aren't many people who have the highest plan, so I get the speeds I want. Just make sure they test your line before they leave, old houses can sometimes have bad cabling. Luckily my ISP uses extremely high quality wire for everything, so I was very lucky.
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