This message is for anybody who has recently bought the aforementioned router and is experiencing a slow connection and many timeouts. This affects the routers that have the 1.57 version of the firmware installed.
To check the firmware version, go to http://192.168.2.1 (that’s the IP of the router in its default configuration) and click Status Info at the top of the page that appears. The firmware version is written under Runtime Code Version.
The 1.57 version apparently has a bug, which did not exist in previous versions and has been fixed in newer ones. The latest official firmware release is 1.51, and can be found at the Edimax site. I’ve also found a 1.58 version on an Israeli’s dealer’s site here.
I’ve tested both 1.51 and 1.58, and they both fix the problem.
Upgrading the firmware is actually quite easy.
Go to http://192.168.2.1, select System Tools at the top, then Firmware Upgrade on the left and follow the instructions on the screen.
Hope this helps somebody someday.