Yes you can replace it with a Linksys, I have the same setup at home. There is a trick to it, this will save you hours of time. First off, purchase the Linksys WRT54GL(make sure its the L), it is Linux based and can be flashed with an open source firmware that will enable to do just about anything from QoS to an increase in wireless range, called DD-WRT.
WRT54GL - http://www.google.com/prod
DD-WRT(for the WRT54GL) - http://www.dd-wrt.com/rout
Ok, once you have this in place of your Verizon supplied modem you will need to call VZ tech support and tell them to release your IP Address(if you get some L1 person just be firm and say, "this has happened before, I just need someone to release my IP"). You may be able to release it on the Verizon modem, and then the Linksys with DHCP for it, but there is a good chance that you will need to call as they often bind to a MAC address.
Once your Linksys receives and IP you are almost done. The config to enable port forwarding in DD-WRT is easy so I wont walk you through that, but one thing you will need to do is attach your Verizon-supplied modem to one of the LAN ports on the Linksys(** THIS IS ONLY IF YOU HAVE FIOS TV IN ADDITION TO FIOS INTERNET**) The reason you need this is because the Set Top Boxes attach to the Internet via the Coax network which gets routed by the Verrizon modem.
The Verizon router has a default subnet of 192.168.1.x/24 so change the subnet on the Linksys to 192.168.0.x, or something that isnt .1.x.
Good luck, I know it looks like a process, but it's really quite simple. You will also love your new features and can setup SSH server on the router along with many other things. Verizon does not block any default ports other than 25(SMTP - Mail) and I think 80(HTTP) and possible 443(SSL). So stay away from these and you will be fine.
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by: bsohn417Posted on 2009-09-03 at 06:48:34ID: 25250600
Follow up with verizon, They might be blocking such service.