Never got the point of a t1.
Honestly, do you have any idea what you're talking about (no) or did you just wiki T1 and look for a number?
T1 is used for servers and offices and such because it has symmetrical up and down speeds, as opposed to residential cable or whatever where the upload speed is almost always going to be significantly less than the download speed. T1 lines also connect directly into the ISP's "hub" (there's a technical term, presence point or something like that), as opposed to a residential connection, which can be routed through several "sub-hubs" (again, there's a technical term and a bit more to it, but I can't find the source I remember right now) before connecting to the ISP's main one.
I'd never recommend one for residential use because it's just stupid to pay that much, but saying the connection is garbage is equally stupid.
I think what compfreak847 meant was that t1 lines are only rated at 1.5mb/s which is slow. The ping times would be slightly better since your directly plugged into the ISP but the bandwidth would suck (and I don't think an isp would even wire any new t1 lines). Most companies that have dedicated lines do not have t1 lines, they are old and slow, they have OC-3 or higher. The term t1 for a dedicated line has stuck around for any dedicated fast line.
Exactly! Obviously you'll get slightly less ping times, but your paying 300$+ a month for (very) slightly less latency - my Comcast connection that costs 1/5th that gets me a 9ms ping - but at the cost of bandwidth. Your literally paying 5-10x the cost for 1/5th the bandwidth. Obviously the reliability and support has its benefits for businesses, but why on earth would any residential customer use a T1