After owning the V1 version of this router and trying various things to make it better such as loading custom firmware onto it (DD WRT), I gave up on it. Whatever I did l would get constant drop outs and the only way to get the Internet to work was to switch the E4200 off and restart it. My son also complained of lag when he was on the PS3! All the forums suggest you are lucky if you receive a V1 as you can modify it with various firmware. The V2 is not compatible with custom firmware due to the chipset used. In the end I gave up and ordered a new one. This one was a V2, clearly stated on the base of the router. The top looks exactly like the V1. The packaging does not mention its a V2 either. Only the 450+450 blurb on the packaging gives it away. The V2 is finally a set & forget router that I was looking for. It had great range and no drop outs so far. It's great to be able to modify equipment to your needs but with a router I find it's a device that most people would want to set up once and not to worry about it again. I'm no longer searching for the next firmware update or a new release of DD WRT to make my router work! UPDATE 08/05/2012: Linksys have released a firmware update for this router. It has been running rock solid with no issues at all. I get reception all over the house, even upstairs in the bedroom where my Apple Airport Exteme would always disconnect! Definitely the best router out of all the ones I have used. UPDATE 27/06/2012: The router continued running smoothly with no reboots required, I was however getting dropouts in the main bedroom. The WiFi range just doesn't seem strong enough to give a reliable connection there. In order to resolve this problem I looked at other routers and went with the Asus RT N66U. I'm getting full bars in the same room with the Asus router. This prompted me to sell the Linksys E4200 V2 and stick with the Asus.