I hope no one followed my earlier message about using the WAP11. If so, I apologize. I'll leave in my previous note about using WEP passwords from OS X with non-Airport base stations.]]
You will find a horrible gotcha in OS X that is unrelated to the Linksys box. In the Network system pref, to enter an ASCII password for a non-Airport base station, you have to surround it with quotation marks even though you don't use them for Airport base stations. This is incredibly confusing, and caused me to waste a lot of time. It also caused me to call Linksys and discover that their tech support is incredibly lame (although it was toll-free in the US).
For more information on how to use OS X with non-Airport base stations, see AppleCare document 106250, which also shows the magic you need to use to enter a hex password.