Thin Client + wireless card(master mode) = Router?

i had a refurb Netgear WNR834B router($25) loaded with dd-wrt for a year, killed it some time ago after flashing to the wrong ddwrt firmware (JTAG failed too)

WNR834b's CPU was quite slow and with multiple devices connected, it lagged quite a bit... been looking at a decent wireless N Device with QoS/USB/other features, cost at least $60....

magicjacksuppor t.com/hp-thin-client-modifications-upgrades-for-magicjack-t1493.html

the thin clients(that the magicjack people have been using) can be found $30-$100, USB support, >=256MB ram, a 1.0ghz processor, >=200MB ROM(or upgradable using a CF card)... should be decent enough specs ... add in a PCI wireless card with AP/MAster mode, linux box with router capabilities, printer/file server...

i have questions on how wireless cards run on Master/AP mode...
a) are there wireless B/G/N PCI cards with master/ap mode?
b) how is the range of these cards? extendable antennas?
c) i see that HostAP is a linux driver with WEP/WPA/WPA2 capabilities... how different is the configurability of HostAP compared to a router? (eg can i set HostAP to mixed B/G mode, access restrictions, MAC address cloning, virutal SSIDs?)

i'm also looking to see if anyone had experience loading linux onto a hp thin client (probably aiming for HP T5700), or any pointers that would help me (eg what is the best PCI wireless card/antenna combo to get best coverage)

I have a T5500 and have removed the internal drive and replaced it with a CF 8 GB & 512Mb ram.
It now runs XP Pro like a champ, makes for a nice media server. I had tried many linux distros and found that any gui made it vary sluggish, I ran it for a few months as a terminal server and that worked fine. Bottom line for me tho, I like how it runs XP w/o IE.