actually the 108 mbps products do this by bonding two 54mbps channels. The way 802.11b/g are designed is that there are two independant "channels" in the spectrum. I'm not positive about the way they worked this out, but you can probably vary the carrier frequency slightly and you can only fit in two channels in the allocated bandwidth for these devices. Usually these two channels are there so that you can use your Wifi network without interfering with your neighbour's network. This is why the 108mbps is a bad idea generally as it pollutes the entire spectrum in that range.
Getting back to your original question, "upgrading speeds" is a multifaceted problem. While more bandwidth always helps, it's also a matter of exploiting it in a cost-efficient manner. Better modulation schemes, more sophisticated antennas, more sensitive analog electronics, and several other things allow you to increase the speed. Once there is enough progress a new standard generally emerges and you get a boost in speed. I think that 802.11n is the next standard coming up and it will be 100 mbps or better without using this channel bonding hack.