Yes, I use it a lot (similar username on ebay).
It is not explained anywhere, but it appears that TL uses the settings from Internet Explorer to access the ebay servers, so providing that your internet connection is up and running and IE can connect to ebay you "should" be able to get TL to connect also.
However, I have noticed that it is susceptible to timing out, even on broadband, so I dread to think what it would be like on dial-up.
There have been SO many issues with TL2 that it's possible it could be a TL2-specific problem - I haven't migrated to it yet. Worth checking the discussion boards.
You can still get TL1 if you simply remove the "2" in the download URL.
SD