Both DSL and cable share infrastructure, it's just a matter of where. For DSL, you get all the bandwidth to yourself until you hit the DSLAM / edge router aggregator, and for cable you share the wire with all your neighbors. However, the story isn't as bad as it sounds. The reason why is with cable, for example, the actually total bandwidth of the cable is really high compared to what you get. Part of that limitation is a provisioned speed in your cable modem, and the other part of that is statistical multiplexing that allows for some oversubscription of the line.
The most reasonable course of action for you is to run some qos policy on your router. Basic queueing theory dictates that the average latency of packets going through your network is an exponential function of the utilization of the network (this is easily observable with car traffic on highways). By restricting the amount of traffic (like metering the highway offramps), you will get lower / more consistent pings. If you still have acceptable bandwidth after applying these policies, then you'll be fine.
I believe these overpriced "gaming" routers do nothing more than this. You have to have sufficient bandwidth to begin with, but more than likely this is the case, if not, your problem is probably with your neighbors using all the cable company's bandwidth, and adding another cable modem isn't going to help things.