Normal? I don’t know as the mean would be the best indicator (IMHO mode would be better) but 60% seems like it would be fairly normal to me.
Bad? That’s subjective To some, maybe a deal breaker, to others, maybe not.
Need to improve it? No, of course not. Should you or do you want to?
That depends on how much optimization you have already done and how much more you’re willing to do.
I think most focus on reducing image file weight, GZIP, minifying large CSS and JavaScript files, and taking advantage of caching.
My impression is that 2-3 seconds is acceptable; 100ms is the pie-in-the-sky goal.
Yahoo has a great list of optimization rules, and more importantly, those rules are listed in order of importance. So, for example, minimizing HTTP requests is the #1 most important optimization you can do.
You may have noticed in your speed tests that you have an awful lot of HTTP requests. You have 14 separate requests for CSS files and 47 requests for JS files. Try to concatenate those files together so that, ideally, there’s just one CSS file and just one JS file. You also have 47 image requests. Try to combine those into sprite sheets.
Even if your page’s weight stays exactly the same, if you can eliminate 80 or so HTTP requests, that should have a huge impact.
In addition to what Jeff said, I counted 30 javascripts and 15 stylesheets, that’s 45 http requests.
What i suggest looking at is removing JS and CSS files that you don’t need on the current page, that will reduce http requests and page weight. Then, when minified and concantated the load will be a lot smaller.