Your problem, in all likelihood, is that there is more than 1 Analog to Digital (A/D) conversion taking place on the telephone line that you have, or you are dialing in to an analog modem at the distant end.
V.90 and V.92 require that only 1 modem be attached to the PSTN with an analog interface. If both are analog attached, then negotiation will begin at 33.6K (V.34). Also, because of the dense population of the phase-shift constellation required to do V.90, there cannot be more than 1 A/D conversion. Quanitization error gets to be too high with the second A/D conversion, and the modems quickly step down to V.34 speeds.
If you are dialing in to an ISP that supports V.90, then the trouble is likely with your line. If you are dialing in to another computer, and it is analog attached to the network, your line may be fine, you just can't have two analog attached modems achieve those speeds.
pansophic