If your in a pinch and need wired internet or LAN to one device, one camera, one printer, (in my case its a Roku I use to stream TV) a cat-3 cable will work and especially a old 25 pair cable like Joe (the op) mentioned he had.
I would not reuse it for the main internent trunk into a building or anything, I would run cat6 for that.
The history and theory behind this all goes back to the telegraph / telegraphic encoding teleprinters days when they were first trying to figure out how may pulses per second you can push thru a copper pair over distance.
Ralph Hartley had a early theory on calculating bits per second (google Hartley's law), I am no expert on the math but some of you might find it interesting:
A 100BASE-TX device transmits on 1 pair (2 wires) and receives on another pair (2 more wires). Without getting too far into encoding theory (way above my pay grade) the 100BASE-TX uses a 4B5B encoding (if I am not mistaken) for each 4 data bits, it transmits a series of 5 symbols -- 100BASE-TX has a 125 MHz symbol rate (or a baud rate of 125 Mbaud) on each pair. Each symbol carries slightly less than 1 bit of information (approximately).
According to Hartley's law the bandwidth required to transmit 125 Mbaud is 31.25 MHz
Cat3 cable is a 16MHz cable, cat5 grades around 100 MHz - 250 MHz (I think)
Another factor is distance, and due to the twists a cat 3 is about 60% of the true wire length of cat 5.
At home my old 40 feet of cat3 to the TV, that I can't replace (or am too lazy to replace), is the approx equivalent of 24 feet of cat5.
Another factor is modern chips are better at sorting out the errors just like wifi has gotten better as this error correction has improved.
Hence I can stream HD video to my Roku over cat3.
So while cat3 is technically below the specs for 100mb lan, and cat5 is way better, in a pinch cat3 works fine for me.
As
@synchro ,
@LarryFine and
@tthh correctly point out the key besides distance is the terminations (much like regular electrical work)
So with clean terminations on cat5 keystone jacks, (not even as nice as Larry's) , point to point runs of cat3 can work for the lazy.