Well, you can't have everything, at least not yet. Do you want your el-cheapo HWP54G card, Fedora Core 4, or WAP2? Pick two. If Ralink is still struggling to come up with WAP2 drivers for Windows, imagine the demands on the unpaid, dedicated programmers who are working on the RT2x00 project. They're just grateful that Ralink released their driver code open source.
Sorry for the bad link. I wrote what I hope was an excruciatingly detailed description of how I got my RT2500 chipset HWP54G PCI card working under Fedora Core 4 at
http://blog.gregrperry.com/2005/11/29/hwp54g-fc4-linux-install-success . If that link doesn't work, go to
www.gregrperry.com/blog and search for "hwp54g" to get all my articles on the subject. The first reference has working links to the rt2x00 project, where you are welcome to participate in the development forums and I'm sure they'll take any coding help, too.
You can also find me by Googling
hwp54g linux. I'm the first result.
Good luck! Please let me know if my stuff ended up helping or if it made you think I was an incompetent moron. I'm trying to write a how-to, so I need the feedback.