There are some HowTo's to create a PirateBox Router with OpenWrt
There are woriking images for OpenWrt available.
There are working PirateBoxes on Debian with plug computers.
Looks like it is now the time to create a Raspberry-PirateBox
I would suggest to use the Pi with OpenWrt if you want Router capabilities only. OpenWrt is also capable of other things like routing.
opkg update && opkg install anything