MyWi iPhone4 tether as the gateway

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DeuceDropper
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MyWi iPhone4 tether as the gateway

is it possible to set up the 3500L to do a USB tether and route the connection as if that were the WAN port? Any idea's suggestions would be appreciated. BTW I cancelled cable internet because the speeds were just as a fast. The only other inconvenience is the NAT type on my xbox and ps3.