Question:

I have a question that I'm desperately searching an answer for. I am wondering if it is possible (I'm pretty sure it is) to hook up the telephone through my stereo (or even the computer). I have a group meeting to host at my place, and would like to have a friend who will be calling in via phone participate. But I want to avoid having to use speakerphone, since speakerphone is always crappy sounding/distorted, etc.

I know in the past i messed around a bit with wires and what not, and was able to run my phone through my little tabletop tape/cd stereo. The sound was awesome.

I'd like to do this again, and would like some on advice on what i might need to buy to make it happen. Or if its possible to hook the phone up through the computer, so the audio runs through my computer speakers (and I guess then I could hook up some mics to send the audio out) . would that work?
Answer:
I have a group - meeting to host at my place, and would like to have a friend who will - be calling in via phone participate. But I want to avoid having to use - speakerphone, since speakerphone is always crappy sounding/distorted, - etc. Speakerphones sound crappy because many of them ARE crappy. You can buy a good one, but not for $19.95 with a built-in answering machine and beer tap. But there's a limit to how good a telephone conversation will sound because telephones are crappy, and the bandwidth is severely limited. Will this be listen-only, or will you want the group to talk to the caller? When you have a live microphone and a live loudspeaker in the same room, you need to do something to prevent feedback, and of course the person on the other end of the call will hear all your lovely room acoustics.

There's a device called a "hybrid" which is used to interface a telephone line to a studio console. It's what radio stations use when they have on-air call-in shows. JK Audio is one of the major suppliers. ().

Any advice on the best/easiest way I can do this to achieve the best - possible sound is much appreciated.

Buy a $1500 speakerphone.  I sometimes work in an office that has a couple of Polycom speakerphones (I think they call them "conference station" to justify the price) and they work very well. That's best and easiest. Now your only problem is where to get the $1500.

Oh, and you aren't going to build something at home using a few wires that will approach the quality of this unit. You can amplify the caller (listen only) fairly easily and it'll sound better than his voice coming through a $20 plastic box. But to make something that works like a telephone is more complicated.