Hi! Just got Teamspeak. 56k modem, otherwise solid rig. 1-2 minute lag from time I say something into the mic until it reaches the people I talk to. Anyone have a suggestion on how to reduce this annoying lag time? Would greatly appreciate your response...Clipper 

The response should be below a second.
Usually the  Lag (ping) is always more or less the same no matter if you use
a modem or DSL. !!! (Depends more on your location...
and the lines your provider uses)
The problem with a modem is that other people will come through clear but broken cause your connection cannot handle the amount of data. Teamspeak offers some codecs/bitrates that should work well with 56k modems.
Some flightsimmers who use our Server seem to use Modems. So we decided to switched all the Flightdeck Channels from
25kbit to 7kbit (channel Simviation Pub to 9kbit). The voice
quality should be still acceptable.
Could you please test if this works for you ?
You can also contact me when you´re on..

cheers,

sam