dnsmasq as a replacement for BIND
 

Hello,
I have a WEB server running on Fedora 10 Linux. It has a static local IP address connected to Belkin router. On Belkin router I've configured port forwarding for 80,53 ports to this static local IP. Router also has a static public IP from my ISP. Also I have a domain registered with godaddy pointing to my DNS server/static public IP on this router and then forwarded by the router to this Linux box.
When I've tried to start dnsmasq it complained that IP is in use so after I shutdown named daemon I was able to start dnsmasq. By the way after this with dnsmasq up and running I was able to start named.
My question is: do I really need to run bind since I've read that dnsmasq could be a replacement for DNS for small networks ? Is there any sample configuration for this ?
I do not need dhcpd ( since I have a static IP ) so from this point all I need is to put my domain name ( or several names if I host several domains ) into /etc/resolv.conf in addition to DNS name server the one godaddy domain hosting is referencing to ? Or just like for BIND I just use search mydomain_name.com clause in /etc/resolv.conf ?
Would this work for me and I can just shutdown BIND in this case ?
Thank you for your answers,
Alex.

Small correction:
>> When I've tried to start dnsmasq it complained that
>> port 53 is in use.

Anyway I've found this nice article with the example of dnsmasq configuration with the router and I'm going to try this:

http://wiki.flexion.org/SettingUpDNSMasq.html

Does anyone have any opinion/experience with running dnsmasq instead of BIND for the small networks ?

Alex.