Wireless A/P is a Hub without wires; any rule that applies to a Hub will apply to A/P.
Your cable system probably will not work directly to the A/P, because it will not authenticate.
You need some form of Routing to share Internet.
Basic Options for Internet Connection Sharing
<a target=new class=ftalternatingbarlinklarge href="http://www.
anandtech.com/guides/viewfaq.html?i=48">Hubs, routers, switches, DSL, LANs, WANs...?</a>