[throwway120385]

A lot of people think that baud rate represents bits per second, which it only does in systems where the symbol set is binary. People got it from RS232.

[rbanffy]

IIRC, modems never went much beyond 2400 baud. Everything past that was clever modulation packing more bits onto a single symbol.

[guerrilla]

Huh, I never thought of it that way but you're right.