Stingreen,
The answer will depend on the nature of the upstream setup. Is it cable or DSL, PPPoE, static or DHCP, single or multiple IP's and how it is physically connected.
Is the internet connection that is coming from a switch also being routed? In other words, does the connection from the modem go to a router and then you are picking up a port on the switch? If so, you are not going to get the functionality you describe.
If, on the other hand, you've got a cable connection with multiple static IP's that goes from the modem to a switch, you will be able to use the port forwarding, firewall, etc.
Can you describe the connections?
The Old Man