To finally put an end to this:
The issue was with a lack of a "driver" for the express modem. While looking through the original install, I found the needed extensions and control panels. Aol 3 will now dial-out properly. The numbers have long been disconnected but at least I got the modem to work. Also, just for the record, the extensions and panels are running just fine under 8.5, despite being designed for 7.x .
I tried AOL 5 on my Wallstreet II 300, and it dialed out like a dream, got the numbers, and overall works fine. VERY SLOW, but fine. It works quicker and renders better if you connect with AOL and then run IE 5 for the actual browser. I'd imagine classilla to be even better.