If you are using WEP, generally it is better to enter the HEX code generated by the router, rather than the password. This often comes down to different ways that passwords are translated by different manufacturers.
Better to use WPA (not WPA2) anyway as it is more secure.
I would suggest that you try connecting with security disabled in the router -- and while you're in there make sure that Access by MCD ID is not enabled (it'll be under Wireless Settings).
Failing that, suggest you post again on the www.netgear.com User Forums.