Actually, Lucent/Alcatel finished a trial run of a new connection technology for long haul underseas cables. It is fiber optic based, but much, much smaller and faster than the current technology allows. It makes use of 155 different carrier frequencies and places a bit of data on the trailing and rising edges of each pulse. They were able to transfer 15.5TB of data in one second, over a 1,000 mile loop. That is about 400DVD's, in one second.
They are just waiting around for the countries to decide to pay for it to be installed.