How To: Share Your Internet Connection Via Bluetooth

[skypy]

Yes TheAlphons is right leave 1,2,4,5 like in the picture and change the MAC address (3.) with your phone mac address. If you are using a router then your ip address will be from 192.168.1.2 to 192.168.1.254 and ICS uses 192.168.0.1 so it is ok, no don't use you router as a default gateway because will not work.