PCaddict's synopsis matches my (limited) experience.
My download rate is typically much higher than my friend's with DSL, but it's not as consistent. Last night I downloaded a compressed 50MB file from download.com at 1.2Mb/s, the night before the same file at approximately the same time downloaded at 800kb/s, two nights before that everything it was 2.38Mb/s. So the rates are higher than the 600kb/s or so that my DSL friends get, but they are not consistent.
Latency is extremely low on my cable connection. Yahoo, USWest.Net, and several other sites all ping at 35ms. Latency fluctuates slightly. I wrote a Perl script to ping various servers and record them in a log to check for outtages during the day (AT&T will reimburse you for outtages) and I've noticed that latency goes up during the day, and drops later at night).
DNS lookup seem slower on cable than DSL... I have no clue why this is so, but it does seem to be true.
Overall, I'm thrilled with my cable modem. I can download files in minutes rather than hours (50MB takes less than 10 minutes, rather than hours). Mine, however, costs $40 per month... not $60. I still think I would get one at $60 - although it'd be a much more difficlt decision.