Yup, same thing here last night (SK5 area). Modem did try a couple of times to reconnect, but it was about midnight when everything came back on and so far it's all tickety-boo around here.
Didn't have the luxury of dialup to reconnect (we had to remove the internal modem to fit in a decent graphics card some time ago and it's no fault of anyones but the computers manufacturer... so little space for anything!) to find out what was going on.
Finding that speeds had been fluctuating prior to the massive outage. Had been calling CS and TS for the last couple of weeks or so for upgrade in speed (usual stories.. Indian Call Centre.. blah blah blah)
Today, everything seems fine. Lets hope it stays that way