If you could somehow get a "pure" un-trunked copper line end to end, it'd be down to distance and how clean the switch connections are - e.g. back when I was running an ISP in the mid 90's the local telco often delivered multiple Mbps leased line connections by simply hard-wiring "normal" copper subscriber lines on the switches in between, but of course that let them test and ensure the connections were clean enough and take appropriate action if they weren't.
Depending on the telco setup; your analog telephone call is encoded into 64k digital, and some signaling schemes used one of the 8 bits for signaling, leaving only 56K for digitizing the audio.
For analog-to-analog calls the best rate was 33.6K.
https://en.wikipedia.org/wiki/Modem#Using_digital_lines_and_...