There's nothing to stop you having a network card AND a modem installed simultanously. Personally I wouldn't like the idea. If you go into your network configuration and remove the TCP/IP protocol from your dialup networking, it should be pretty safe.
You can then use it as an input device for sound recorder or whatever. Alternatively you could make up an interface to connect the telephone line to your mic or line-in connection of your sound card. This would be much more secure as it would totally remove any posiblity of the thing ever being used to dial out.
Where are you located? (I only ask as diferent countries use diferent standards on thier public telephone networks).
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