Wireless Networking confusion

So, I just got my Netgear WNDR3700. Thought I'd finally step up to N, from my old Buffalo wireless G. I don't have any N adapters yet. Wifes laptop, sons desktop, Wii, PS3 all are G. What I was wondering was if I can use this Instead of a usual adapter in order to get N speeds to my PS3, and the other devices on my network for that matter. I thought I could set this up as an access point, but I misunderstood how access points work. If it will work, what "mode" would you use the Trendnet device as?

Not sure I made this clear enough, so.......my plan was to broadcast N from my router to the Trendnet, and have a cable run from it to the PS3, which would allow for faster net access to the Playstation. What am I missing here?

 

Nevermind. Looks like I need something that provides a "client access point". Know of a cheap solution anyone?