I run dd-wrt and it does the trick as regards port forwarding, static leases etc.
There is a facility to use it to update your dns (as far as i can remember) but never looked into it as i've a static ip.
dd-wrt has the option already there, if you go with openwrt you have to install that module yourself
No i did try it and openwrt on my tplink router but ended up building my own router/access point running ipcop http://www.ipcop.org/
I found dd-wrt had a load of stuff i didnt need and if you use openwrt you need to installl a usb stick as root if you want to install any more than about 5 modules as the memory wasnt big enough.
Both dd-wrt and openwrt would crash after about 2 weeks as the router couldnt cope with the usage it was getting.
I have had no such problem with ipcop, all you need is any old pc and an extra ethernet card and you can use your current router as an access point, although depending on your usage this may be overkill
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