Um, Rajeev, that port may not be for what you think it is for. Most DSL modems, if they have a USB connection, provide it as an alternative for connecting up to a PC that may not have a network (RJ-45 connection). Assuming for one minute, however, that yours actually is for a print server, no, you cannot just connect an external hard drive to that port and expect it to be functional. Print server != file server. As far as you statement that commercially available external hard drives with RJ45 ports are not that dependable for serious network storage, they are infinitely more usable than any USB-connected solution. Low-end NAS is getting better every day, and there has been some consolidation that bodes well for the future of this technology. Check out companies like Buffalo Technology and NETGEAR for a representative look at what's out there. Some of these also feature USB ports, and those are for connecting additional external hard drives. As always, you get what you pay for.