Make sure to check your units. 1 KB/s = 8 kbps. So an upload limit of 512 kbps = 64 KB/s. IME, 35-40 KB/s upload speeds aren't outside the realm of normal upload speeds when capped at 64 KB/s. In my house, I usually get closer to 50 KB/s, but in my old apt I got 35-40 KB/s. Depends on a slew of factors, but basically I think your speeds are in the neighborhood of what to expect.
The 330 - 350 you see with Mozy is probably kbps, while the ~35-40 you see with BT is probably KB/s. 40 KB/s = 320 kbps, so your speeds really are the same for both Mozy and BT.
Edit to add: with no bandwidth restrictions on uTorrent (or any BT client, for that matter, in my experience), BT will eat up ALL the u/l bandwidth, which will have a negative effect on your d/l performance. Best to reserve 5-10 KB/s of u/l bandwidth - restrict uTorrent to, say, 35 KB/s - if you want to d/l while uploading via BT.