is there a way to use my modem and make regular phone calls with the pc rather than a telephone? Im sending and receiving faxes; just thought maybe making phonecalls is possible too? and i dont mean internet phone like skype, or VoIP.

You would have to pay for it.

edit: ohhhh I just realised what you meant, as far as I know there isn't a way to do that.

There used to be, normaly you needed to connect your sound card to the modem card, but I haven't seen that type of software on windows since win95. (the selling point normal tag line was make your PC into a speaker phone).