Arduino Ethernet shield minimal circuit

after reading this
I was successful in implementing the minimal circuit using atmega328p.I want to know if a similar simplification is available for the arduino Ethernet shield where I can simply use the IC W5100 and use it in standalone manner. If such a thing is possible please provide the useful links and resources. I have gone through the datasheet of the IC and I am a bit confused.

How's this?

Its nice but it would be nice if you can throw some light on the basic idea used in such a circuit i.e how the Ethernet connectivity is provided to the Atmega etc.