I was having the same problem because I am running my dsl line through a router to several systems.
If this is the case for you, then perhaps this may help. Also, I am descibing what I did with my Netgear FVS318 Router, it may be a bit different depending on what router you are using. I am also using win2k here.

(In router settings web page)
1. Under "Advanced" click on "Ports"
2. Check the "Default DMZ Server" box
3. Enter a static IP address you want your box to use
4. Click Apply
(In Win2k)
5. Right click on network icon on desktop
6. Select Properties
7. Right click on Local Area Connection
8. Select Properties
9. Select "Internet Protocol (TCP/IP)"
10. Click on "Properties" button
11. Select "Use the following ip address"
12. Enter the static IP address from step 3
13. For subnet mask put 255.255.255.0
14. For default gateway, enter the IP address of the router
15. Select "Use the following DNS Server addresses"
16. For preferred DNS server, enter the IP address of the router
17. Click OK
18. You may want to reboot your router, then reboot your system too

This should force your router to send all traffic to and from the routers IP address directly to your system.

In MIRC select "Server" for lookup method. Make sure that Local Host and IP Address fields are blank, and that their checkboxes are checked.

I hope this helps!