Static IP address--still confused. Is this correct?

Hoping someone can check behind my work here...

I have a Time Capsule device. I'm posting here as this involves the internet connection piece and I think that deals with the airport part of the device.

I had a static IP address running for about a year with no problems. Then, one day about a month ago my time machine device seemed to have a meltdown. Lost my connections, had to start over, etc. Because I ran into all sorts of problems setting up the IP address again I just went with the DHCP and skipped the static IP address. I tried again this week to set it up. The related port forwarding seems to be working but my connection has slowed down dramatically, especially if connected to a bit torrent site that is downloading fairly slow (much slower than in the past).

I guess I'm confused b/c the instructions on the net seem to talk about setting one area (under system preferences/network) but not in the airport part of the settings. Here's what I did.

1. Went into system preferences/network, and modified the "ethernet" connection to configure IPv4 manually. The IP address is 10.0.1.10. The router shows 10.0.1.1. All the other fields are in there correctly I think. Is this controlling the router from Comcast? Do these numbers make sense?

2. I went into Airport utility, the internet settings, and changed that IPv4 to manual as well. The IP address is 24.14.234.XX. The router address is 24.14.232.1. Is this controlling the Apple part of the router? Do these settings make sense?

3. Under DHCP tab in airport utility, it has DHCP range of 10.0.1.2 as the beginning address and 10.0.1.200 as the ending address. Honestly, I thought my settings in # 1 and # 2 don't make sense with this from what I've read on the internet. Thoughts?

I can connect to the internet right now but I feel like I've done this wrong and that it is sluggish.

Any advice?

Thanks.