Yep that does the trick. Quite easy. However I was unable to start natd before ppp0 was enabled through the ppp connect. Perhaps another line has to be added, something like:
ipconfig ppp0 up?
OpenBSD allows you to set up a range of ports for natd instead of just one... how is that done?
In OpenBSD you do (in /etc/ipnat.rules) eg
map ppp0 10.0.0.0/8 -> ppp0/32 portmap tcp/udp 10000:20000
OpenBSD is a lot better than FreeBSD in ease of use, security, and installation, surprised Apple would not have used that as its base.