Yes, OpenWRT 15.05 (Chaos Calmer) supports the Raspberry Pi! And has a downloadable module for ASIX USB 2.0 -> 10/100 Ethernet adapters. Which means you can easily turn your RPi into a router. My current setup is Home network -> cheap 5-port switch -> Pi onboard ethernet -> cheap Asix USB adapter -> cable modem The Pi, switch, and USB adapter cost under $80 all told, comparable with a lot of home routers. It also gets me 3.5 MB/s on the cable connection, vs. 2.5 for my old router... Plus it can run proxies. Whee! Anyway yeah, I heartily recommend something like this for anyone who wants a better router, but doesn't want the cost and power consumption of a desktop or old laptop.
There is related thread here on Wilders . And also a step-by-step guide on the BBC website , from a few months ago .