Right on! Matt: that wire is in good shape it has never been touched or disturned since 1963.. Been buried in the walls and under insulation since then.
Ed: I am going to take a meter over and check just for laughs and see if its wired in a loop! From what I saw in the attic it did appear to drop down a wall and come back up and go elsewhere, and in the basement it appears to be two cables but that makes sence now that its the ends of the loop.. " Drive Rings"? Yeah I have heard that term before! Come to think of it I have seen them in a pole line catalog I picked up somewhere.
Its too bad I don't know where EXACTLY these wires are running in my walls, I wouldn't mind actually cutting in phone jacks and using it if it were in the right location.. Guess I may have to crawl up in the attic sometime and see where it all goes!
Thanks again!
A.D