It took me a while, but I was able to set up Slackware 9 on my PC as a wireless access point using the Netgear MA 311 WiFi PCI card. I got the 128 bit WEP working with it too. I used the hostap_pci driver, iwconfig, and set up routing and iptables to provide broadband access to my laptop (which also uses Slackware 9 with the Netgear MA 401 WiFi PCMCIA card, the hostap_cs driver, and iwconfig). It's sweet!
I wrote a Linuxquestions.org answer document that you can find in the "answers" section.