A T-1, DS-1, T-span, or whatever you'd like to call it is 1.544Mbps up and down.
Whatis.com link with a brief explanation of T-1 carrier. I don't know where you got 1.1 from bexors but that's just flatly incorrect. No offense.

I'll spare y'all the B8ZS/ESF, TDM, et al. Doesn't really matter for what's being asked here at all.
Physically it consists of two twisted copper pair (send and receive) and it terminates to a CSU/DSU (Channel Service Unit/Data Serice Unit). Actually the TelCo will install something called a SmartJack on the customer premise and after that it's up to you. Typically if you order through an ISP they will loan you the router and the CSU/DSU. Back in the day the CSU/DSU were two separate devices but these days they are pretty much one in the same. For example, we loan all of our customers a Cisco 1605R with T-1 WIC and 8MB of flash RAM if they order a connection with us.
So, you'll need a CSU/DSU and then you'll need a router to route the IP traffice and you'll need at least a hub, though I'd go with a switch, to connect all the other machines.
Speed of each machine? Depends. If only one machine is using the connection at a certain time then that machine will have the entire T-1 available to it. Two machines, half it, etc., etc..
Pricing. Varies greatly from region to region and from provider to provider. In the Ameritech Region we do a full zero mileage T-1 for $550.00 per month on a 5 year agreement. The shorter the time the more the monthly. There's also an installation charge. Again this varies greatly from region to region and from provider to provider. I think on the 5 year deal we charge like $250.00 install on a zero mile T-1. Again, that install charge goes up with shorter terms...I think. I'm not sure, I'm not in sales I'm in engineering. But I'm pretty close.
Same T-1 with AT&T in my area: $1000.00 install and $600.00 per month on a 5 year deal.
IPs. You can do it either way: statically assign or via DHCP.