how to limit bandwidth on local host

[Alok Pandey <alok rhct gmail com>]

hi
I want to limit  the bandwidth on machine having OS centos 4.3 
final/64_86 arch ,up to 35kbps. I had google around and now i m quite 
confused to which way to move.
I found several ways as , with iptables ,with  squid , tc etc.
Can you suggest me which will be efficient and esaiest way to move.
Will it be better to use iptables limit.
thanks
alok