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Usually, I know this but I keep seeing the little "i" in the abbreviation KiB/s which is technically called a "kibibyte" (see this link: http://en.wikipedia.org/wiki/Kibibyte) I've never heard of that unit, but always have thought that it meant Kilobyte. Or Kilobits, perhaps? So can someone please tell me which it is so I can get my speed settings right?

kibi, Gibi etc. are the binary (base 2 numbering system)  equivalent of Kilo, Giga, etc are to decimal (base 10 numbering system)

Kilo == 1000 ( 10^3) whereas kibi == 1024 (2^10)

In layman's words using KiB is more accurate than using KB.

This might help a bit for other users to understand why KiB and not KB http://www.iec.ch/si/binary.htm