NAT on Cisco IOS weirdness

[Transistor Sister <raven () kalypso cybercom net>]

Greetings--

My attempts at configuring NAT on a 2611 running IOS 11.3 have been in
vain. The following is a dump of my config: 

ip nat pool natpool 207.xxx.xxx.5 207.xxx.xxx.5 netmask 255.255.255.0
ip nat inside source list 1 pool natpool overload

 interface Ethernet0/0
 ip address 207.xxx.xx.1 255.255.255.0
 ip nat outside

interface Ethernet0/1
 ip address 10.0.0.204 255.0.0.0
 ip nat inside

access-list 1 permit 10.0.0.0 0.0.0.255


With this configuration in place, I am fully able to make connections from
a net 10 box behind the router to systems on my DMZ (207.xxx.xxx.xxx
addresses) with the .5 translated global address. However, all connections
to hosts outside of my public network using the same box get refused with
messages such as: 

Feb  4 21:23:04 remotehost in.telnetd[9096]: refused connect from unknown
Feb  4 21:24:06 remotehost in.telnetd[9101]: warning: can't get client
address: No route to host

What am I missing here?

Thanks in advance for any help.

.Sarah