Only to use it as a hub (and let one of the PC's do ICS). There are other models which WILL do that sort of thing, one of them being the <A HREF="http://www.dlink.com/products/broadband/di704/" target="_new">DLink DI-704</A> and if you click <A HREF="http://126.96.36.199/productimage/33-127-003-04.JPG" target="_new">here</A> notice the 9 pin serial port which connects to an external modem and serves the dial-up ISP to your LAN. I use it as a backup when my DSL goes down. Cool stuff. Unfortunately the Linksys doesn't have this capability.
<i>It's always the one thing you never suspected.</i>