Wirelessly posted (iPhone: Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)
I bought one of these things two weeks ago.
Gotta agree - some major flaws with this thing - its a long way from plug and play.
I too could not get wifi sharing to work, and had frequent dropouts when using an Ethernet connection.
The UI is nothing short of bizarre - the commands are unclear and it switches IPs at will...
I updated to firmware 220.127.116.11 and it's still really flaky.
I'm a big Asus fan but this thing is not ready for prime time...