It's been a long time since I used a 300 mHz computer, but if I recall correctly, that's a bit underpowered for playing MP3's. It'll probably peg your CPU utilization near 100% the whole time you're using it.
I'd definitely go for the $999 model with 1.8 GHz. Or the 900 mHz for $799 should do you fine. Either of these prolly already includes an ethernet port so you wouldn't have to buy one.
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