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Most routers have some sort of logging. Have you checked the logs to see if there's any errors/warnings that could perhaps be the source of the problem?
Have you tried performing a traceroute to see if you can find out if there's latency somewhere else? (although it doesn't seem like it's a Shaw network issue if you say connecting it right to the modem gives you the normal speeds)
Any special rules or QoS applied on the old router? Maybe update to the latest firmware revision for the router to see if you get any better performance?
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