Update. Ok, turns out the modem is configured correctly, and so is the Router. So, everything is ok in theory. The high latency is because of peak times. I'm monitoring it though, it should never have gotten that high. Hopefully yesterday was just really bad.
I've found there is still work going on in my area, albeit usually in the wee hours of the morning, and that my account with Blueyonder Broadband is actually at just 1Mb until March 31st. After that i get my 4Mb, which i feel is stupid as i paid for 4Mb to begin with... But, the plus side is i'm getting it a little cheaper than the next package up (which i though i would be on)
Just got to wait a week, April 1st, i'm testing my baby out again.
Currently, after all their diagnostics i can download at 111kbps average, which is 1Mb speed, so, it all adds up.
Very helpful technical support. 4 1/2 stars
(Spoke to some bloke called Charles if you're interested)