And for as a first it wasn't anything I was doing wrong.
Because I tried to connect with an incorrect mac address from my laptop multiple times and then attempted again after a couple of seconds with the correct mac address I must have been locked out of my ISP for a short time.
I found this out because after I tried to connect with my laptop, I plugged my PC back in (which was working) and found that I could no longer connect to the net.
It was at this point I unplugged the power from my cable modem and went down the gym for a couple of hours. When I got back I tried my PC again and found that it was working again.
I then plugged the network cable back into my laptop and went through the process of changing my mac address again. I reactivated my network device through system-config-network and found that low and behold I could connect to the net and post the solution on LQ.
I hope this solution is helpful for someone else out there who is having similar problems.
Thanks for the help Camorri.