Hey, I found this:
http://www.mdstud.chalmers.se/~md1gavan/mips64emul/
I've been trying to get the thing to emulate the WRT54G, and after I sent an e-mail to the developer, he got interested and apparently added support. The problem is that he uses BSD and I'm using Linux. I can't seem to get anything meaningful.
I think this could be a pretty cool tool to test out things without having a sacrificial router.
Any thoughts?