I am on 2Mbps/128Kbps.
First of all wireless or wired, doesn't make any difference for sharing the connection as speeds up to 30Mbps+ are practically achievable on wireless networks and we don't have applications at home to make use of such speed on LAN itself.
@Iaryan_6668- If you want to share your connection go for it. If I understand your question properly, sharing won't have any effect on your connection's speed etc. Only if when few computers are doing Internet at the same time will slow it down on your PC. And if someone is uploading something or using Webcam than forget about Online Gaming, won't work properly!! Even your voice-chat etc. will suffer because of that. But depends on your Upload speed. Usually its 512Kbps on Cable connections. So you should be sweet!!
kevmead said:
its not your phone line, its the server that is more likely to be slowing your connection down
Also depends if he is using Cable or DSL. Cable's speed will decrease during busy hours.