Assigning IP addresses on a SoHo Network

[superczar]

I recently had a "friendly" discussion with one of the members here at TE over home networking.

One point that came up made me sit up & Think, so I am posting it as a poll for everyone.

Question:
While setting up a home/small office network , What convention should I follow while assigning IP addresses?

 

[~uNIx~]

duh whats an IP address