I have used both USB and BlueTooth to connect to the internet sucessfully (ahem, for merely technical testing purposes).
If you delete the reg key for the riphone.dll, the phone won't do it's hocus pocus with changing your username on the ICS.
Once that pesky dll key is removed, you can go into ICS and hit connect (via USB or BlueTooth). If you're connecting via USB and have an up to date version of XP, it should find the network connection automatically (some firewalls may interfere, so you may have to troubleshoot further). Once it gets an address, voila! If you're connecting via BlueTooth, go into your Network Connections and double click your Bluetooth Network Connection under Personal Area Network. Assuming you've launched it on your Touch you should be able to add the device and connect.
Deleting the reg key is helpful for times that you want to stay connected for longer periods of time. Once deleted you never have to worry about having a live connection before plugging it in.
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