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is there some sort of software I can install which will let me monitor the other pcs usage and maybe allocate bandwidth usage etc?
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Some routers (eg newer Linksys models) have something called QoS built-in which provides 'guaranteed minimum' bandwidth to certain ports, but it doesn't look like yours does (assuming you got the second one linked above). There are network tools (sniffers) to monitor all traffic on your LAN, but I don't know of one thats free and straightforward to use.