Yeah, I got the same one the other day, and the connection just got changed over about 10 mins ago. Seems perfectly fine to me, can change the ssid, password, encryption mode, don't really need anything else from a router.
My only grumble with it, is it doesn't allow seperate WPA or WPA2, you can only used mixed mode, which seems a bit daft, hopefully they'll update the firmware.
I haven't tried all 4 ethernet ports because I use homeplugs, but if indeed only 2 are active, why not just use a hub? I got one from ebuyer for less than 20 quid.