Yeah, ParaDrive was on my list of possible names. I have a product coming out called µDrive (micro-drive) that emulates a variety of retro disk drives (at the lowest level), like the 1541, 1571, 1581, CMD HD, Atari 1050, Tandy TPDD, etc.
I have been testing the pre-production WiModem232 boards today. On a whim I decided to connect the WiModem232 plugged into my A1200 to the WiModem plugged into my C64. I was able connect the two together, chat with myself, and even transfer files via X-Modem.
Looks like NULL modem games should work just fine, you just need to connect systems prior to running the game.
I have to test the hardware handshaking to make 100% sure it works, but 115200 baud works perfectly so far, I think we have a winner here.