If you had done a simple tracert (trace-route), you'd have found out that usenetnow is a blocknews reseller.
It would also have shown you exactly (well, pretty exactly) where the server is (it's in the 'telecom row' area of eastern Virginia, around Dulles Airport), and the hop-court/delay may not be what you figured.
I'm on the extreme west coast, yet there are circuit paths that go directly from my nearest 'big city' right straight to the Dulles area. One hop. Almost zero delay. I use Astraweb (physically real close) but also use Usenet-News (for fills), whose servers are in the Dulles Area. Circuit path wise, it's the same hop count.
So, if you do some real testing from your location (Toronto), you may find that going cross North America may be just as fast as as somewhere a few hundred miles away. Of course, that doesn't mean the 'throughput' will be there, and also doesn't mean that it'll be there with something closer. 'Throughput' has almost nothing to do with any delay.
You should figure that each receive/transfer 'connection' to a news-server will 'top out' at around 1-2Mb/s, although it does vary due to the different software and front-end hardware the different providers use So, the more 'connections' generally the better, especially with more bandwidth than GOD.
Get a small block account, try it out. Put 'peddle to the metal' at different times of the day. See how both the internet, your local ISP, and the news-provider react. 'Due Diligence'.