You need to do 3 things:
1) Run remnet.exe from the \Windows folder on your 'pod. Make a new connection (direct) and configure the settings to whatever baud rate you want (I run 115K no problem). Save this with a name you can remember.
2) Run the Communications applet in the control panel, tap the PC Connection tab, and change the connection to the new one you just made.
3) Next time you run pclink, it will use the new connection.