Single Point Internet

I have two Win 7 PCs and two Win XP PCs, all Pro versions and several
NAS sitting on my LAN.

Would it be beneficial and or doable to have only one PC, call it the
master, connected directly to the internet through the ATTUVerse modem?
What are the pros and cons?

If so, can someone explain or point me to a how to for one point
internet access.

My definition of one point internet would be to have the LAN
disconnected from the internet but PCs have access to the internet
through the master PC therefore I can monitor all traffic to the
internet on the master PC.

Would I need additional hardware beyond the two switches and secondary
router that I already have? Just reroute differently.

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