Does this make a Wired Computer internet connection able to transmit wireless signals? (Link inside)?
Yes, you can use that USB adapter to give your PC Wi-Fi ability, then you can create an “ad hoc” network and activate Internet Connection Sharing on the computer. As far as the iPhone can tell, your PC is the wireless router. But if you have an external DSL or Cable modem, I’d suggest getting a regular Ethernet-based wireless router that you can plug in between your modem and your computer. You can find some that are less expensive and more versatile than this USB unit. At the very least, shop around because the computer manufacturers tend to sell accessories like that at full price.