Yep, I had a Linux VMware installation successfully using the external modem on my Win2k host. It works just like you think it would, basically. Just add the serial port to the guest OS configuration.
[nickjohnson] sent in today’s hack. Mike removed the extraneous hardware, just leaving the UART on this IBM PCMCIA modem and replaced it with a SMD MAX241 ttl-rs232 converter. He added a new end to ...