...our router is a Netgear tri-band with 6 antennas.
Ok, thanks for the update.
I feel the wired option is faster than the wi-fi when downloading things like movies, computer updates, etc.
Yes, that would be correct. Ethernet connections typically run in the 1 Gbps range. Wireless, typically would be half that and only near the wireless router.
I have a normal ethernet cable that connects my iMac to our phone line. Our local phone co. can only provide us with DSL service.
Sorry, this is where I'm getting a bit confused. Typically DSL service would come into your home and connect to a DSL modem or a modem/router (or gateway device) that supports DSL connectivity using a standard phone jack ... not Ethernet. From there you could connect one or more Ethernet cables to each of your wired network clients. Alternatively, you could connect a single Ethernet cable between the gateway into an Ethernet switch, and then, connect each wired client to the switch. Going a bit further, you can connect Ethernet runs (inside your walls) to anywhere in your home where you want Ethernet connectivity at a wall outlet. Is the latter something that is the case for your home and how your iMac (that is downstairs) to the gateway upstairs?
When I open Network Preferences, it says "Ethernet is connected & currently active & has the IP address, etc." Our other PC computers have the name of our network (both wired & wi-fi) vs an IP address...which is what I want my iMac to do.
Actually, you only want each client to connect by either Ethernet or by wireless, not both at the same time. If you want your iMac to use Ethernet, then just be sure that Ethernet is at the top of the network connection type list in System Preferences > Network, as in the image below. Notice that I have Wi-Fi turned off for my Mac mini and only use Ethernet for my connection. Also Configure IPv4 should be set to: Using DHCP, so that your iMac can get the proper IP addresses from the DSL gateway.