Hi Jack
I meant ram on the machine, but you have lots, and as you know, OSX handles application ram automatically. Looks like your system is more than adequate for p2p. Yep--broadband looks to be it!
I get my broadband from my cable tv provider. Might that be an alternative to the phone for you? Another suggestion would be to contact the university. The computer science dept would provide internet access to the students, and would know what's available in your area, provided you are not too far out of the city.
I was working on some of the 500MHz iMacs, and found some needed all sorts of updates (I think a firmware update was needed on one), and the System Preference Software Update hadn't been run for a long time.
btw, have you tried
http://www.macmentor.org/ ? It's recommended by a fellow ("displaced") posting on the Acquisition boards (
http://www.sciforums.com/) who is on GMT, and knows more about networks in the UK than either of us.
Cheers