I'm a little confused as to how it works. Is it like a serial version of the plipbox? Or is it a modem emulator? Or both? Or something else?
If it's like the plipbox, it would need a SANA-II driver so that any of the TCP/IP stacks could use it to get online. plipbox needs a separate power supply, so if this thing didn't need one, that would be an advantage.
If it's a modem emulator, how does it "dial" a BBS through Ethernet/TCP/IP? It would be cool if it could allow users to natively play direct-dial or serial-link games through the internet instead of the phone line or in-person.