I think that $46 USD for up to 8 Mbit is an OK deal. Personally, I think their 15 Mbit service at $59.95 per month is pretty good too. I would personally shell out the extra $13.95. I will mention one thing though. I am guessing that this is a DSL product. With any broadband product, whether cable or DSL, you will see the words "up to" before the quoted speed. This means that you should not expect the quoted speed, for example 8 Mbit/sec, from every single website you visit, from every single ftp server you connect to, and from every single p2p network you use. That "up to" is there for a reason. Your download speed depends on the connection at the other end as well. Moreover, with DSL, the maximum speed you will get depends on the quality of your telephone line and the distance that you are from the telephone exchange.
Here in Great Britain, I have a 4 Mbit/sec (384 kb upload) cable service, which costs me $50 (UK price converted into dollars) per month. I could switch to 2 Mbit (256 Kb upload) at $36 per month, or 20 Mbit (768 Kb upload) at $70 per month. Cable tends to be slightly more solidly fast than DSL. These are not bad prices. In fact when the 20 Mbit service is rolled out in my area next month I shall probably upgrade.
Here in the UK there are lots of DSL products, some at lower prices, but the cheaper ones tend to have monthly download caps and they get more expensive if you go over the limit. If the service is not capped I think that price is OK.
You say that 8 Mbit/sec "isn't all that great". I find that an odd thing for someone on 45 kbps dial up to say. At the moment a 4 gigabyte download is going to take you about 10 days of 24/7 downloading at your max speed if you can achieve it.
On an 8 Mbit connection at max speed that download would take you about 90 minutes. That is a big change. It means that you will not just be doing things much faster, you will be doing things that you would never have bothered with before.
Also, think of what you will save by not spending money on going out, dating, entertainment, food, soap, shampoo, clothes, etc!