Absolutely. Go to https://geti2p.net/ to get started. There are some super simple Windows installers that make everything just a few clicks. If you're on Linux it's built into the package managers for Ubuntu/Debian but from my experience it's a lot better if you can get the Java source version working because then it can self update and you'll always have the most current release.
Once it's installed and running let your new i2p router run for a minimum of about 30-45 min to explore the network and build good connections with peers. The longer it runs the more stable it becomes but it should be usable after about 30 minutes on your first start up (subsequent start ups are a little faster after your router gets to know the network a little better). And that's it! You're now running an i2p router!
The only part where things get a little hard is with the proxy settings... Unfortunately there just aren't enough active devs or funding in i2p to support a dedicated browser like Tor so this is the only side of i2p that tends to get more involved. You need to configure a browser to proxy http requests through the port used for i2p http: 4444. If the i2p router is on the same machine as the browser then it's just a matter of entering your local address (127.0.0.1) and port (4444) into your proxy settings. If your i2p router is remote, you need to use ssh port forwarding on port 4444. Alternatively, there is a Firefox plugin that one of the core i2p devs (idk) maintains which automatically containerizes and proxies all .i2p addresses while leaving normal web traffic alone, it's called "I2P In Private Browsing". Only warning that the dev for that project cites is that the plugin, although open sourced, has not gone through any security auditing so there's no guarantee that no information gets leaked to the clear web - so basically just avoid this if maximum privacy is your goal.
After your router is started up and proxy settings are configured, you're good to go! Check out some starter sites like i2pforum.i2p to join in on i2p related discussions and development. notbob.i2p also offers a nice sortable directory of some sites hosted on i2p. Or.... Host your own hidden service(s)! The standard i2p install comes with a prepackaged and preconfigured Jetty web server, just start the service from your local tunnels page and you're now hosting a hidden website!
The possibilities are pretty much endless from here, anything that communicates on TCP/UDP can be tunneled through I2P. Which by the way is a huge advantage over Tor since Tor does not even support UDP. Unlike Tor, I2P also has a much better incentive for node operators since every user is a node, the more people who use I2P, the faster and better it becomes.... A Tor node only gets spun up when someone chooses to donate their resources to the network out of the grace of their heart. This also applies to P2P downloading. In fact... It helps to grab a popular download from an I2P indexer when starting a fresh router as that helps introduce your client to new peers. Torrenting is not even an option on Tor as it is basically DDOS'S the network of limited nodes..
The speeds have improved tremendously, over the last couple of years some significant improvements have been made. There's still more bandwidth overhead using I2P over a traditional connection but it has been significantly reduced and is not as noticeable anymore. That being said, there's still some configuration that's necessary to maximize your bandwidth. The biggest complaint I hear about the standard i2p install is that it uses extremely conservative bandwidth settings by default but it can all be easily adjusted to maximize performance on your router. I've used I2PD quite a bit but overall I actually much prefer standard Java I2P because it's far more feature rich, more frequently maintained, and settings are muuuuch much easier to configure and understand. There are still many brilliant optimizations in Java I2P that have not made it into I2PD such as the most recent peer analysis techniques that can automatically block/ban misbehaving peers among other things too. I personally think I2PD is best if I just need to host a low resource tunnel.... But back to the speed!
As was already mentioned the more people who participate, the more I2P thrives. One of the most notable differences is that most I2P nodes right now are just enthusiasts running on recycled hardware at a residential address whereas clear net torrents are much more mainstream and many common/popular torrents have at least one peer hosted at a data center with virtually unlimited bandwidth, that one peer usually contributes to over 50% of your download speed on a standard torrent.
I have my router bandwidth setting on my 24/7 router set pretty high and my router usually idles at about 850 KBps... My most recent peak was about 1.3MBps, very acceptable speeds I think. I get the best i2p torrent download speeds using Snark which is built into Java I2P, the only important setting to change is increase tunnel quantity to 10 to maximize your download bandwidth. I have seen some of my downloads seed at about 200+ KBps and I have downloaded at almost a full 1MBps which are comparable speeds to standard clear torrent downloads.
So, in a nutshell, it's not necessarily slower than a standard torrent download (well, maybe a little bit) but what it does have is significantly more variability in bandwidth and download speed depending on how many hops or peers are in between you and your target destination. More hops creates more variance (and more anonymity), you could be directly connected to someone in a data center but the next hop could be connected to a raspberry pi running off of public Wi-Fi which will be the bottleneck in that connection.