Yes, there is no reason why you can't run connection sharing and use one PC as a router. I have no problem with this solution on my setup.
If you have more money you can actually buy ADSL routers, but there's not a lot of point for a home LAN.
Pipex also get my vote - However - can any tecchie sort out there confirm/deny that although the connection is 576k/sec, there is an artificial cap of 64k/sec of concurrent downloads due to the identification of the Alcatel USB modem as an ISDN device?
Still awesomely fast thought