Password problems afer 'reset-to-factory-anyway'

I've just tried yet another reset-to-factory.

and I know I have executted the command becasue the blue led for wlan flashes away until I reboot the bloody thing.

Then I power up. It becomes an access point with an IP address of 192.168.1.168, I use my brower to connect to it. enter http://192.168.240.1 and get a 'bad gateway!'

For the love of god will someone tell me what is going on.....