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I picked up a cable that directly connects on computer to another via ethernet cards. However, this cable only works with plug-and-play ease if both computers are running XP. For my ME computer (thankfully, passed on now), fiddling with the ME computer to get it to see the network was more trouble than it was worth.
I don't know if this kind of connection could be used to share internet, but I think it could. I know that I've been in an office with my laptop and plugged it into the network router (an older system which would not recognize my computer) and was immediately able to access the internet.
Besides, this method ties up both ethernet ports on the computers, so it may not work for you if your internet connection is through the ethernet port anyway.
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