Steam isn't any better in Northern Europe. Having tried every server around here, the most I can get is around 500kB/s with a 100Mb connection. The other day I downloaded Magic 2012 with an average speed of less than 100KB/s, couldn't be bothered to change the server but just proves my point. Using UK content servers I get up to 2MB/s but usually around 1MB/s. For best speeds I have to ignore European servers completely and just use a North American content server. Then there's the problem of actually starting a download. If anything new is being released, it usually takes 5-10 hours to actually start a download (unless using US servers, then you can usually start the download immediately). The weird thing is, according to Steam content server stats (site currently down, I would link it otherwise) the European servers are barely ever used by people at all. So most European content servers are a) very, very slow and b) very few people actually use them.
Meanwhile EADLM/Origin and Impulse always give me at least 5MB/s and often quite a bit more. Just the other day I got DA:O Ultimate edition at over 7MB/s. Even Direct2Drive often hovers around the 5MB/s mark. Obviously Steam has the most users but they should also have most bandwidth by a huge margin. It just seems the bandwidth isn't really meant for us Europeans.