Is it just me or... does the modem audibly say "Hi" when the connection is successful? Probably just me projecting from my imagination, but listen to the part after the handshaking and before the white-noise dataflow. There's a very clear 'boing-boing' sound and then a bunch of static that sort-of sounds like someone whispering the word "Hi". It's not just on the linked recording above, I remember being conscious of this back in the day when dial-up was "normal". Just curious to know if anyone else encountered this trick of perception...

Anyway, hearing those tones again did bring back all the feels, the joy of hearing that "boing-boing-Hi" greeting as I stepped once again onto the "Information Superhighway".