Every single thing you do that involves network access of any amount does it faster. Do you enjoy waiting for pages to load and apps to pull in data? LTE isn't about more data per se, it's about faster data. It's entirely possible to use it without downloading any more data and still benefit from it.
If you are downloading 1MB of data the difference in delivery between the two speeds (42mbps vs. 72mbps) is 80ms (190ms vs 111ms) Hardly life-changing.
Latency is actually quite a bit better with LTE. That said, I moved from T-Mobile HSPA+ to Verizon LTE and it wasn't earth shattering. Both pretty much feel like WiFi and I agree with Google that it's not worth compromising several other aspects of a phone just to get LTE.
I don't think bandwidth is as important. I'd bet that the most waiting is incurred through the inherent large latency in the medium. Did LTE improve in that area?
