Why is Dropbox so slow at downloading?

I've upgraded to the new version, and have relinked the machine that was upgraded.

 

It's downloading at 5K per second. Why so slow?

 

This is on an EC2 machine with a pretty big pipe capable of megabytes per second.

 

I have the prefs set so both downloading and uploading are unlimited by bandwidth. Why is it running so slow?

 

PS: It's also running at 100 percent of the CPU for all this time.

Done