Probably a slightly late answer, but I've decided to add it anyway.
Hanging at the Cisco logo (or whatever else) is the expected behaviour in the case when the /etc/inittab file is empty. The answer depends on how you want to log into the machine. Uncommenting the line:
::respawn:/sbin/getty -L ttyS0 115200 vt100
allows you to provide login prompt on /dev/ttyS0. Assuming that you have connected over serial /dev/ttyS0 (be sure that this is in fact your interface, e.g., at my machine it is /dev/ttyPS0), the auto-login can be realiserealised by adding:
ttyPS0::respawn:/bin/login -f <user>
This should auto log-in you as the <user>.
The other approach that uses /sbin/getty and custom-made auto-login utility is described here.
If you want to automatically log-in using, e.g., /dev/tty3, you can modify the example. The auto-start of browser will depend on the X and the browser you use. I would modify the ~/.profile or ~/.bashrc in your ${HOME} directory (typically /home/<user>) by adding at the end something like:
startx
google-chrome-stable &
Note, however, that if youryou're connected to the router over some serial/USB cable this may not work.