FW is a great way to network an iMac to an iBook (it's as fast a link as you'll get as the iBook doesn't have gigabit ethernet). I use FW networking for moving large files; wifi is just too slow. You just need to configure the Network settings in System Parameters to look for the FW connection, then you can browse to the other computer through the network icon in the Finder sidebar. There are a few steps to the config, so I won't get into it here, but the Apple site has a lot of info.
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