I recently rooted my HTC Thunderbolt and put Cyanogen Mod 7 on it, which includes tethering capability. This morning I connected my iMac at work to my phone, and ran a speed test. The results are impressive.
Download: 15.48 Mb/s
Upload: 4.86 Mb/s
Ping: 104ms
The test was run with the following signal status:
So in case there was still any doubt, LTE is awesome.