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shown here. There are a number of valid reasons for this such as running servers that require ip verification, to VPN. Either way if you want to assign that static IP's directly to the machine all you have to do is follow this setup.
Note: I still recommend that you use addhostmapping unless you have no other choice, because that method still allows you to have as many NAT computers on your lan as you want (up to 18 by default). Where as this method only allows 5 computers max.
Ok, so what do you do? Basically you remove NAT, remove the default DHCP ip pool, change your Eth IP and thats it.
So here is the block we are working with:
xxx.xxx.xxx.104 Network (not useable)
xxx.xxx.xxx.110 Router Wan port
xxx.xxx.xxx.111 Broadcast (not usable)
dhcp del 192.168.254.0 (removes current block)
dhcp set mask xxx.xxx.xxx.104 255.255.255.248
dhcp set add xxx.xxx.xxx.105 xxx.xxx.xxx.109
eth ip addr xxx.xxx.xxx.110 255.255.255.0
eth ip mgmt xxx.1xxx.xxx.110 255.255.255.0
rem setiptranslate off internet
Voila! Easy as pie.
Courtesy of Dennis posted in the forum here.