Bandwidth limit by IP or host

Is it possible to limit bandwith to a specified bytes(second)
for a specific IP address and(o)r host name?

Yes,

You would have a layer3 switch and rate-limit or QoS the /30 CIDR or port.

To rate by host I believe you would have to use mod_throttle for apache and I don't know what it would be for IIS.

[matt_01]

Davin,

I have used mod_throttle for linux.. works fine for small pages.
But was not working for sites using more then 50 GB per month..

Use a switch with rate-limit.