The Butterfly's modem is DSP-based but unfortunately, it's not the MWave version that newer ThinkPad's such as 755 have so it is not software upgradable.
Note that the Butterfly only ships with a modem in the US and Canada. This is because the modem is not approved for use in other countries. Export versions are built without the modem electronics and jack.
I have a Courier
V.Everything PCMCIA modem.
Here's the config I use.
You can look at your config modem's using the "ATI5" command.
I run my Courier at:
IRQ I/O addr 4 0x3f8
To use the Courier, you must disable the internal ThinkPad modem in the bios menu and also in the Windows 95 device manager.
To install the Courier under Windows 95, you need to fetch mdmusrcr.inf from the US Robotics ftp site and copy it to c:\windows\inf.
The folks at C/Net liked it in their modem performance review.
Another good source is
Curt's High Speed Modem Page.
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Craig Leres