Speedtest.net takes a snapshot. Or maybe 'short video clip' is a better analogy.
It IS a realistic indication of speed, as measured by their test, during those moments in time.
It's certainly better than "I have no idea".
So accumulate some snapshots over a period of time, and if most of them have similar results, AND your real-world observations confirm what the snapshots show, then you have a fair picture of what's going on.
I keep Activity Monitor open in my dock with the thumbnail image of Network Performance. When streaming video becomes laggy, it's usually accompanied by a sudden drop in (or a complete cut) network activity.
Here's a snapshot from the bottom of the full Activity Monitor page showing the Network Activity data.

Keep in mind that Activity Monitor measures data in KBYTES, so you have to multiply the Peak number shown (in my case 310KBytes) by 8 to get a rough idea (8*310KBYTES = 2.480MBITS maximum throughput)
The graph and Peak number indicate a total of combined download (green line) and upload (red line) performance, while Speedtest measures only one direction at a time.
Watching a YouTube video and running Speedtest.net about the same time, I saw the following speeds a moment ago:

So in this case, the Peak number above the graph is close (within +/-10%) to the Speedtest measurement.
Like a luxury performance car capable of 0-60 in 4.9 seconds, and a top speed in excess of 155 MPH, does that even matter if all you're doing is taking the kids a mile to school and stopping at the grocery store on the way home?
I don't honestly know what maximum performance your wired and wireless network components are capable of.
Or how much faster they COULD be with a faster 'pipeline' to the internet.
As long as you're happy with the performance and the service is reliable, I'm not sure it matters much.
So finally, back to trying to answer your original questions in your first post:
Is (my connection) fast enough for Apple TV?
Sorry, I really can't answer that one. Apple has a 14-day return policy, so I guess the logical thing is to give it a try. I have successfully watched many Netflix standard-definition movies streamed to a Nintendo Wii wirelessly connected to my router. The movies played fine without buffering. But again, that's SD, not HD.
How do I stop Safari from beachballing?
I use Click-to-Flash with Safari, to disable most Flash content unless I intentionally click and cause it to run or add the site to a whitelist. Investigate other browsers. Google Chrome, and Firefox are reasonable alternatives that may work better than Safari for some websites and online tasks. And try to keep the number of Safari tabs open at the same time to 10 or less.
Message was edited by: kostby