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A contract is a treatise between two agreeing parties and must be fair and reflect what the parties intended.
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When you took out broadband services with Telewest, what speed of service was in the contract you signed?
You say that Virgin cannot alter the terms of the contract, which also must mean the orginal product terms and service levels apply as well
---------- Post added at 00:22 ---------- Previous post was at 00:13 ----------
And lets say the OP wins, manages to get lots of money out of Virgin Media - then what?
Virgin remove traffic managment and let everyone have a free for all?
Virgin downgrade everyones services to lower speeds that they can manage without STM?
I can't see any useful outcome apart from monitary.