My torrent download speeds are normally between about 1mb/s and 5 mb/s so having that show up instead of 5000k would be nice, Thanks.

Look in settings. There is output formatting.

does  help?

I really don't see that option.... What box should I tick off or set to a certain value?

Go to Settings > User Interface > Output Formatting, set M as Largest Unit under Bytes and Bytes In Charts.

And what about B/s in and out?

You are confusing bit and bytes, speeds from the ISP are usually measured in bits while tixati speeds all in bytes.

Mb stands for Megabits MB is for Megabytes.