Unfortunately it sounds like you have turned it into a brick.

I've never delt with this model but rumour has it the hardware is similar to a Linksys WRT54G (Broadcom based).
If this is the case, it may feature a failsafe mode where you can get the firmware back on the device even when it is corrupt. Try to upload the firmware file via a TFTP client to either 192.168.1.1 or 192.168.2.1 after turning on the router.
Windows XP and most Linux distros have a command line TFTP client built in. Type
tftp at the command line to find out how yours works. It should be similar to below where
192.168.1.1 is the IP of the router and
firmware.bin is the path to the firmware file you wish to upload:
Code:
tftp 192.168.1.1 put c:\firmware.bin
Alternatively, see
Marlborough WiFi - Hacking the Dick Smith XH8287 access point for information on attaching a serial port to get console access to re-flash the firmware. These instructions apply to a WAP54G PCB but can easily be adapted to most other devices utilising Broadcom hardware. With broken firmware the device has probably voided its warranty anyway so there shouldn't be any harm in opening it up.
Hope this helps!