If it's the same bike on the same road and you increase speed (bits/s), time (latency) must decrease.
This is actually not entirely true. As a statement on it's own, it is true, however in context of a deployed HSDPA/HSUPA network latency
is affected more by many other factors.
The problem with latency wireless technologies such as 3G/HSxPA, WiMAX etc is due to the fact that it is a shared medium.
This means that base stations have to poll, or assign timeslots to each device that wants to "talk" on that frequency, as mutliple devices "talking" at the same time will cause a malformed packet to be received. Some technologies such as CDMA use coded (bitmapped) transmissions that allows more than one talker to communicate at the same time, however there is always some form of polling involved.
Devices further away from a base station, also have to use a different modulation just to be able to successfully transmit a frame, for example QPSK is used further away, and QAM when closer to the BTS. Using a different modulation helps the packet "make" it to the BTS, but uses more radio resources because the different modulation schemes all have different efficiencies.
Thus, latency on a wireless connection is more a factor of how many users are connected to that basestation, how far away they are on average from the basestation and what traffic they are doing, because they are sharing a common frequency medium.
In essence, more users, more traffic, and distance introduces more latency.
This is also one of the reasons why wireless technologies latencies "jitter" more than dedicated medium connections such as ADSL, Fibre or Ethernet.
A user on the edge of a cell, can also bugger it up for everyone due to the system having to give him more timeslots due to his less efficient modulation scheme. Many users on the edge of the cell, could make it untenable for everyone, even though the users close by have a good signal. This is why cell planning is important.
Of course, as Vodacom3G points out, an increase in the spectral efficiency (number of bits per Hertz) does mean that each user requires less time to receive or transmit the same amount of data than in a less spectrally efficient system, and hence the latency will decrease.
But overall, from a users perspective spectral efficiency has much less of an impact on latency than general cell conditions and load (number of users/traffic) has.