BAUD RATE VERSUS BITS PER SECOND

 "Baud" comes from Baudot, the inventor of the 5 bit teletype code.
 A baud is one transition per second on a communications link.

 A BPS (Bit Per Second) is a transmission of one bit of information
 per second on a communicaations link.

 One baud is not necessarily (and seldom is!) one BPS.  Essentially
 all modems are 1200 baud or less, although many modems do 2400 or
 9600 BPS.

 The magic comes in encoding more than one bit into each transition.
 it is possible to do this by encoding information into the phase
 (or timing) of the transition, and even into the amplitude of the
 transition.