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Now I'm not quite sure about the nearest location option. Physical proximity sometimes coincides to network nearness, but not always. An automatic selection process might have been better. Nonetheless, I did hazard a guess to the closest mirror, Taiwan, and came out with a decent download speed.
Still, I'd much prefer to download via torrent. It's a little disappointing not to have the torrent option on the download page. Like minded folks can instead head over to the traditional version of the release page for 7.04 and select the appropriate file.
Be warned, though: I'm getting tracker timeout errors from the torrent file. Maybe it'll get fixed tomorrow.