Is MyWif faster than iTether?

I am currently using iTether with my iPad and the connection is slow. Reminds me of the old days with 56K dial-up modems. Before using iTether, I used the trial version of MyWi, and it seemed much faster.

Is this my imagination?

Granted, that the limiting step is most likely my 3G iPhone running 3.1; but I can't upgrade the OS until December (long story). Besides I was warned not to upgrade a 3G phone to OS 4.0+

My ultimate question is "Will I see a noticeable speed increase using MyWi"?

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