I found the connection there to be really good at McMaster - I was living in Hedden if this helps you. I rarely experienced any lag, and I found it to be very good. It was like playing in my home. I thought the connection was great, and I was expecting it to be very bad.
Though, to be fair I pretty much played at night and during mornings, when most people weren't using the Internet.
So, yes definitely bring your console of choice. I did and I did not regret it.
In order to actually connect your console and get past McMaster's firewall you will need to use this site to get everything working.
http://netman.mcmaster.ca/maconly/reg_nonpc.html
When you move into residence follow the steps and you should be ready to play online!