Not that this will help or hurt you, but fyi really. Your external IP address when you are dialed in to your ISP is still attached to your PPP adapter which is your modem connection. If you ping that address it does not bounce out to the internet and back because that is your PCs IP address and has the same net effect of pinging 127.0.0.1 because both that address and your DHCP- pulled "external" IP address are attached to your computer.
That said, if you use a dynamic dns provider and ping the hostname you gave yourself, then it will bounce out to your ISP for DNS resolution of that name, the ISPs DNS will tell you the IP, then you will still ping yourself.
Just wanting to clarify that connecting to your own PC is not sending the traffic out on the internet somewhere and back. If it does, and I can't think how it would, you have bigger issues =)
Assuming you've configured everything as listed in these posts, then it should work. It does work for you but not someone on the internet and thus the only questionable problem here is your latency.
I don't see it here yet, so I'll say that I'm curious what success your friend has connecting to a real broadband server that you can connect to by following the guides elsewhere in this forum.
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