Right you are... though Hermes will run on anything down to a Plus with 4 Megs. I have 3 TCP/IP connexions and one modem which is more than enough for my purposes... I don't think it would be problematic to increase that several fold, but it's not necessary at all.
On thing about Hermes... it's buggy as batsh!t. The only way I could keep mine running smoothly was to limit it to one catch-all forum. Thankfully that's enough to cope with the traffic.