Not at all! most of us do!
ADSL has the least latency of any connection type out there.
Gears runs fantastically on 384 as a client, you can host as well, but you can't host more than 5/6 peeps (it's the 128k up you see . .. )
If you want to play against international players, then you'll need unshaped bandwidth, but against locals shaped is fine. There normally isn't a need to play int's, there's usually at least 3-4 local gears games going on any particular night.