kehi, this is the sort of material that separates the EEs from the boys. At the receiver end, raw power matters only as much as it takes for you to get a signal that your receiver is sensitive enough to see - in practice, power alone is not usually at issue. What matters more is the signal to noise ratio - SNR. That is, you need the signal carrying the data to be a certain amount stronger than the noise the receiver also sees along with it, in order for the receiver to pick the signal out from the noise. That noise comes from several places - including the transmitter itself. No transmitter is perfect, especially on its analog side, it introduces some noise along with the signal it's transmitting.
According to a lot of other research, when you crank up the power in the WRT's transmitter a little bit, you get more signal, and not much more noise - you win. But if you keep turning up the power in the WRT's transmitter, you start getting more and more noise, and you can quickly get to a point where you are transmitting more signal but also so much more noise that the signal to noise ratio is lower than if you left things alone.
So boosting the good signal of the WRT is not nearly as simple as just turning up the power - it's a matter of optimizing the SNR. And that is tricky. According to what I've read, the Linksys default settings are fairly close to optimal for most units.
Now, there's also another issue for you to consider - the device is only legally (per the FCC) allowed to transmit a certain amount of signal strength. So you need to be sure that if you go tweaking the output power to turn it up, that you are still within the legal requirements. It's not like you set the variable to 100% and the Gestapo comes knocking on your door - more like you go from being a good citizen to a naughty boy, and if more people did that the 2.4GHz spectrum would be even more polluted than it already is, and your wireless network would never work because everyone else's overpowered routers are introducing more noise into the channel you're trying to use.
All that said.... most of the third party firmware allows you to tweak the output power. The HyperWRT firmware is fairly close to the Linksys firmware. Sveasoft are a bunch of jerks (or maybe just one?), don't deal with them. OpenWRT is great, but requires Linux skill. There are other firmwares out there - check linksysinfo.org. Also check that you're running a good Linksys firmware - some of them for whatever reason set the power down way low.
Incidentally, most of the discussion of power and SNR applies to any wireless device, it's just that with most of them, you the user don't get to fiddle with such things.