Most likely, yes. 100 peers is essentially 100 different connections pulling content down.
A saturated line normally has high latency to the exchange. Similar to when you use Dropbox - my home line shoots up to 1500ms on the 2nd hop when I use Dropbox for uploading a lot of content.
It's strange though because I've never had this kind of problem before.
Here's speed test and tracert I did with torrent still running. Latency on speed test seems fine. Download speed is down a bit but that's because torrent is still running. Not sure what to make of the tracert.
http://www.speedtest.net/result/4235379326.png
Tracing route to www.movreel.com [81.17.27.81]
over a maximum of 30 hops:
1 3 ms 7 ms 2 ms 192.168.0.1
2 * * * Request timed out.
3 31 ms 15 ms 14 ms 41.181.221.245
4 17 ms 28 ms 41 ms 41.181.221.246
5 25 ms 22 ms 18 ms qux-jh-dca-2.za-b.za.mtnbusiness.net [41.181.165
.115]
6 37 ms 17 ms 22 ms jh-dca-2.za--qux-b.za.mtnbusiness.net [41.181.16
5.114]
7 209 ms 232 ms 208 ms 41.181.180.10
8 296 ms 217 ms 210 ms ls-cr-2.uk--rb-cr-1.za.mtnns.net [196.44.31.114]
9 209 ms 227 ms 217 ms ls-pr-1.uk--ls-cr-2.uk-a.mtn.net [209.212.111.20
1]
10 204 ms 231 ms 244 ms 40ge1-3.core1.lon2.he.net [195.66.224.21]
11 268 ms 252 ms 255 ms 100ge3-2.core1.ams1.he.net [72.52.92.214]
12 262 ms 249 ms 249 ms 100ge5-1.core1.fra1.he.net [72.52.92.6]
13 225 ms 218 ms 221 ms 10ge3-1.core1.zrh1.he.net [72.52.92.30]
14 236 ms 232 ms 279 ms tengigc03p03.edge01.privatelayer.com [216.66.87.
10]
15 * * 221 ms lb00.dist01.privatelayer.com [31.7.63.9]
16 262 ms 274 ms 331 ms 31.7.62.194
17 286 ms 288 ms 258 ms 81.17.27.81
Trace complete.
