First of all apologies for having being a confusing. It is absolutely clear to me that an AP only has a LAN interface and no WAN but I got mislead by the forum entries and started doing dumb things (moreover I really did not see the option to turn DHCP off). The AP now works flawlessly because I added eth1 to br0 (yes there are eth0 and eth1 despite there is just one physical port).
If I may, the AP has 32MB of RAM and not 4MB. I really hoped to be able to use OpenVPN but it does not appear. Is there any chance to activate it?
In any case, thanks a lot for the support! Even without OpenVPN the many options of dd-wrt makes it a great choice.
I can confirm that eth1 is working fine and unbridging eth0 does not bring any effect. By activating the WAN port the WAN IP is assigned right away as soon as in the networking tab the wan port is assigned to eth1 (with eth0 the IP remains 0.0.0.0).
I have a suspicion that this is part of the crux of the problem with similar CPU hardware supported by DD-WRT. Have several options to investigate this, but my devices are not readily handy at the moment. I do know that the 940Nv3 doesn't like the startup script for the lan ports to work anymore, just have not had time to test without it as it is serving as an AP elsewhere.