Mine hasnt gone down in hmm.. maybe a year or more? Even after a power outage, I just boot back up the computers and I'm good to go. I use it with cable modem.
I have an old win 98 machine on it, this wired machine on it, my wireless laptop on it, and my PSP if I wanna check stats from the bathroom or something strange! hehe
I'm not sure about that problem with dropping connection, but linksys has a pretty large Q&A section somewhere on their site. I'm sure someone else has had it and fixed it..
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