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To put that in perspective, "baud" is bits/second, but on an RS-232 serial link you have a start and a stop bit for each byte so you have to divide by 10 to get bytes/sec, not 8.

I'm just old enough to remember Commodore selling a 300 baud and a 1200 baud modem, and I was fortunate enough to have the $70 to buy the faster one. I still have it, although I'm not sure what it's good for. I have a lot of retro stuff I need to sell. I had a friend with the 300 baud one, so I know it was painful.