Today's 3G networks are operating at real-world speeds well under the 10 Mbps barrier, and most are working at far less than that. The Apple iPhone, for example, can't exceed 1.4 Mbps on AT&T's network (though the device is capable of a theoretical 3.6 Mbps). The Novatel wireless card I use is capable of reaching super-fast speeds via Verizon's EV-DO Rev. A network, but on average, I see 1.66 Mbps for downloads and 186 kilobits per second uploads. You can imagine, then, the order of magnitude that LTE represents in comparison.
With chips (and networks) this fast, mobile devices will be much more capable at receiving and pushing content. We can expect to see them become a reality in the 2010 to 2012 time frame here in the United States.