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[osiris2354]

Playing online with two xboxes and one computer is possible. I've done it with XBC but I'm pretty sure it would work with Xlink too. I would recommend Xlink (if it works on Xlink that is). As for setting it up just connect both xboxes and your computer to your switch with straight through (patch) cables  and your switch to your router with another straight through cable and it should work. I'm not sure about Static vs. Dynamic IP addresses but either one would probably be fine.