Funny you should raise this as I was wondering. According to the D-Link site the Z is the "standing up", slightly more curvy one, and the manual calls it a Router. D1 is the more modem shaped one, and the manual calls it a Modem. The A&A website is ambiguous, the for sale section shows a picture of the Z, but the wiki shows pictures of the D1 (for example the picture showing the blanked-off reset button).
So if I do end up with a separate modem, the one I want is the curvy, standing up, DSL-320B-Z?