A static route?
Do you mean that you want to set up the WAN side of the device to have a static IP address or that you want to assign a static IP address to a device on the LAN side?
Both are part of what it will do - and I am doing them with great success.
In fact, I have done that with both the firmware designed for this router AND also with firmware designed for another router loaded into it (see previous thread).
This is the link to the support page for this router at dlink.com:
http://support.dlink.com/products/view.asp?productid=WBR-2310
The FAQ section has info about setting up these two things.
By the way, if you want to play with the router software and not do any damage to anything, you will find emulators for a number of DLINK routers on the main DLINK web site. Very useful as they have the help files (of limited value, but they are some help) there too.
Good luck.
