Final Post on the above issue.
I have finally been able to surf the net wirelessly using Bluetooth and the Axim X50. I followed the guidelines in the following sites as a basis for making changes to my computer's setup:
http://www.spug.net/features/btadapter.htm
http://www.clieuk.co.uk/surf.shtml
Essentially, I stopped using Network Bridging and started using Internet Connection Sharing in Windows XP. I also changed my router setup so that it did not use 192.168.0.1 as its address. Apparentely, the mini DHCP server on the Bluetooth network connection requires this address.
Using Bluetooth to surf is probably not as good an option as Wi-fi as it requires soft resets ocassionally. I just make sure to do this before starting each session. I also make sure to clear out the temp. internet files, cookies, and history to free up memory. You also have to ocassionally turn the computer's bluetooth adapter on and off as it sometimes get lost. The Linksys Bluetooth adapter has nice range (claimed 100m) as it picks me up anywhere in our two story house. And the throughput rate is good enough for me as it is faster than the dial-up connection we had up until recently.
So, as a cheap way to surf wirelessly, the bluetooth setup does ok.