I'd like to use a wireless router as a Wireless Access Point in another part of the house.

My internet connection goes into a Linksys [BEFW11S4] wireless router:
SSID: ssidname
Chanel: 6
DHCP: on

How should I configure the wireless router I'm trying to use as a WAP [Netgear MR814]?
SSID: ssidname
Channel: 6
DHCP: off [I turned this off]
IP: [Default]

Should I set it to the same SSID and Channel?
By default it's set to get an IP address from the ISP. Should I leave this or set it to a static IP?

Has Anyone gone through this? Can it work?