I have attempted this with the Security settings set to both "Optional Encryption" and "No Encryption Allowed" both using the PAP protocol (unencrypted).
I noticed that both browsers report a web site to have been "found" when an address is entered (Internet Explorer: "Website found, waiting for reply...") which is probably the url being resolved properly, but data is not being returned. I noticed under connection statistics that the computer is sending data but only recieving a fraction thereof back (10 times or more less).
The machine/connection was automatically assigned 10.6.199.255 (dynamic) as an IP when connected (Subnet Mask 255.255.255.255). The DNS servers are 172.28.220.175/.176, DHCP says it's disabled and NetBIOS over Tcip is disabled (which I assume is the desirable setting).
I have checked my Windows internet settings and the "domain" field is blank, I'm not sure if this is desirable. I have tried using the "Automatically Detect Settings" option with no improvement.