Well, still trying different options and I have found one that worked.
1) Install Brainslayer's mega DD-WRT
-Select 'others' -> eko -> Brainslayer-V24-preSP2 -> 2011
I chose the latest build which was 03-17-11-r16454 but there are no guarantees that this is the most stable release. Choose your poison
latest build with potential bugs or most stable build with known issues.
2) Follow steps from Optware, the Right Way:
As part of that process, they have you prepare a USB key with the instructions below: (the link is in Optware the Right Way so you don't really need this but I figured I'd add it separately)
3) Start the xinetd service:
service xinetd on
service xinetd start
4) Start the Asterisk service:
service asterisk on
service asterisk start
From following the steps in Optware, the right way, I was able to get myself up and running.
Now, I just need to configure Asterisk with VOIP.MS and my PAP2T device.