I have a client that has a cable modem which only has 1 ethernet port he plugs his computer into. Can Vera 2 be used as a wired or wireless access point?
Yes but it will actually be a full router rather then just and access point (access points are really just bridges with no address translation or DHCP (IP address servers) etc ) , Plug the modem into eth1 (WAN port) and then eth2 and the Wifi will have LAN addresses assigned to them.
Unlike the single port on the Modem, the single port (eth2/WAN) on Vera 2 can have a network switch plugged in, and it can then be used with multiple wired devices also! The Wireless will already be good for about 254 clients/devices now.