I used it for a short time as I did some testing, but it worked fine when played around with it (though not sure if I used anything with iptables).

You may check out tomato firmware which is quite good.

Bam! Thanks man! That just about did the trick... this one actually functions properly the way it should.

My only hurdle now is trying to figure out how I can segregate the LAN/ports traffic from the wireless traffic. Do you know how to do this?

There are 5 interfaces (similar to DD-WRT):

br0 - a bridge of ports and wireless (this is the only internal one that works)
eth0 - supposed to represent just ports
eth1 - supposed to be just wireless
vlan0 - not sure what it is (but same MAC as br0/eth0)
vlan1 - WAN connection (also works)

So, what I've done for testing is created rules in order to forward traffic through vlan0, then eth1, then eth0 and finally br0. The only rule that gets traffic is the last, br0.

My router is currently configured to allow traffic forwarded from br0 to vlan1 and vice-versa (standard firewall). What I'd like to do (and what I've done with a standard computer) is configure rules that separate the ports and wifi traffic.. so I can basically stop wifi addresses from pinging/accessing stuff on the wired network and limit what can be accessed to/from the Internet as well. Make sense?

Ketchup - yeah, I use something similar, an old Dell tower with EnGarde running on it. Works very well! Just looking to not have to use an entire computer in this case. Thanks!