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As the Internet evolves into a ubiquitous communication infrastructure and provides various services including telephony, it will be expected to meet the quality standards achieved in the public switched telephone network. Our objective in this paper is to assess to what extent today's Internet meets this expectation. Our assessment is based on delay and loss measurements taken over wide-area backbone networks and uses subjective voice quality measures capturing the various impairments incurred. First, we compile the results of various studies into a single model for assessing the voice-over-IP (VoIP) quality. Then, we identify different types of typical Internet paths and study their VoIP performance. For each type of path, we identify those characteristics that affect the VoIP perceived quality. Such characteristics include the network loss and the delay variability that should be appropriately handled by the playout scheduling at the receiver. Our findings indicate that although voice services can be adequately provided by some ISPs, a significant number of Internet backbone paths lead to poor performance.