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In theory it should be fine.
Remember that there is 8 bits to a byte so to convert 3Mb/s into MB/s you need to divide it by 8. 3000/8 = 375 so as erocker stated you will get 0.375 MB/s maximum download speed as opposed to your current maximum of 1.875 MB/s.
Depending on what is being streamed you may notice some lag issues, however I would imagine everything should run fine.
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