@ dougmack, 127.0.0.1 is the standard IP address used for a loopback network connection.
This means that when you try to connect to 127.0.0.1, you are looped back to your own machine.
So, simply put, 127.0.0.1 is you.
127.0.0.1 is also called localhost.
As a side note, when fighting a Malware Redirect from a Rogue site, adding that site to your HOSTS file as 127.0.0.1
will just return you to your Home page. Great tool !!
Example:(no live link - would need to add "http://www."