Yes- I believe #3 would work- Airport works automatically as a router.  I'm
pretty sure it does NAT (Network Address Translation) as well, but I'd check
on that at Apple's website.  Frankly, for laptops, I'd seriously consider
it.  Cabling is OK for a desktop which doesn't move, but unless you like
being locked at a desk, I probably wouldn't go to the trouble.

>3. If I was rich and bought two new Farallon WaveLan 11MB cards(at 
>$250+ each?) and an Apple Airport would that mitigate the need for 
>the router/switch, i.e., Airport serving as router.

Just my $.02

  -Nathan
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