Is 7.5-8.0 mbps downloadload speed good for gaming?

i have att and i used to run 15 mbps with uverse but i moved and where i live know they said the highest speed available is about 8 megs but i have a contract with att an i cant change for half a year, im changing to comcast as soon as i can because i want atleast 12mbps. so is it good for gaming? and can i be host with that connection without lag? please help