LAN play is through IWNet/Steamworks, you can do offline mode....but you can't use the same licence on each PC(makes sense really, through EULA agreement) unlike COD4 where you could just swap the discs between PCs
A lot of people are raging about it now. but if you look at the game, it's amazing, really great development, plot etc. Looks like some serious effort has gone into it. It's just a shame that IW have promoted it more on XBox360/PS3 over the PC due to piracy issues :(
It's a shame us good folk miss out through other bad folks hacking and cracking good games
I have moved across the ditch. Now residing in Melbourne as a VOIP/Video Technical Trainer/Engineer.