Yes. After the flash is finished (do it with LAN cable and use Firefox), wait around 2-3 minutes for things to settle down. Then you can access DD-WRT at 192.168.1.1 & go to Administration -> Factory Defaults -> Restore Factory Defaults.
Then configure router as you wish. _________________ THERE ARE NO STRANGERS HERE; ONLY FRIENDS YOU HAVEN'T YET MET.
DD-WRT Links: BUILDS / SUPPORTED DEVICES / TRAC / CHANGELOG
This is not my experience with this model router. I have been using an EA6500 V1 in a high traffic volunteer office for the last 3+ months w/o a reboot. I think it is on r27506 and up since it was released.