With Blind Dial off and the Modem Init as the default, and the rest of the settings as my I.S.P. told me to put them, I get a message saying that there is no dial tone. With Blind Dial on it says it's connecting, but never does.
At the same time I listened on the line with a normal phone and there definately was dial tone and the console was making no attempt to connect...
Maybe I got a dodgy modem!