This will take your dsl close to the speed of dial up, i’ve seen people do this plenty of times when i was working for verizon and even before hand. If you have the verizon modem with the 4port switch on the back just get a long enough ethernet cable to go the distance, that will save you loads of signal degradation. If you really do want to relocate the verizon modem try and find either
a. the main phone line coming into the house(on the inside of course)
b. the closest phone jack to the room your playing in
whichever way you go DO NOT use a standard grade cord with clips on the end, they degrade the signal very fast. With either option a or b go to lowes or home depot and get heavy grade phone wire used to run lines through walls. usually has 4 wires inside of it and they are a lot thicker than whats in standard wires. this helps get rid of the signal loss problem. If you don’t really want to buy the heavier wire just double connect the standard wire. On phone lines you only need to hook up red and green, double connecting would just be hooking up red&yellow to the red connector and green&brown to the green connector. this will give the signal more wire to sustain itself with and the signal won’t degrade. Sorry if i confused the hell out of you but i had to give you as much info as possible so that you don’t mess up. If you want you can let me know when you decide to do this and i can come out & help.
I understand what you are saying. I think I like your idea of just putting the router in the basement and running a LAN cable up through the floor for the 360. Thanks for the help!