That should be fine...
I'm on a 56k modem, and played lastnight. I lowered my rate to 3000 in the console, and that dropped my ping down to 200-250 range.
On a friends cable modem, the game was basicly lag free in our saber fights. I had a bit of a slow down a few times, but it happed like 2 or 3 times in a 20 min game, and only lasted a sec or two.
After JK, playing JK2 is a dream come true for a saberest lag wise.
I mean, in JK2, I can swing and honest expect to hit based on where the other persons model shows up on my screen. Unlike in JK, where I tipicaly had to email him a few days in advance that I was going to swing now