Happily the D-Link Support staff emailed an RMA ticket very quickly and I took that down to my nearest Officeworks who honoured the ticket and promptly exchanged the unit.
The first thing I wanted to try before going over any other config steps was to make sure that this unit didn't have the same issue saving the Admin password so I logged in, changed it and was gutted to find that I was once again unable to log in, so I started the testing again only this time I used a super simple password, one lower-case character and amazingly that worked!!
Using that same test and increasing each iteration by one character I found that after eight characters, the password field stops accepting entries and me not being a touch typist, didn't notice it until I tested it this way. I then used my original complex password, truncated to eight characters and bingo, we're secure(ish).
TLDR; DWR-921 Admin password cannot exceed 8 (eight) characters