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A wireless network may contain several different types of equipment. The wireless access point joins a WiFi local network to a wired broadband router or other Ethernet network. WiFi routers contain built-in wireless access points.
An Access Point is a radio transmitter/receiver that is most widely used to bridge wireless and a wired (ethernet) network. A Wireless router has both the functionalities of a router and an access point in a single unit.
Posted by waqasahmad
Wireless Access Points add wireless connectivity to an existing network. An access point will not share your internet connection; you will still need a router for that. Wireless routers will share your internet connection for you as well as add wireless to your network.
Posted by michaelcoyne
As far as speed, performance and range. It would make no difference as to which hardware you use. However, the location of the router/AP will. If running a cable out from a router to an access point allows you to locate the Access Point in an optimal, high central location, that would be best. Placing the Access Point in the center of a room at or near the celling will give far better coverage than sitting on a table in the corner of the room. I would go with the access point. Also, you could add an additional Access Point later on if you find you need increased coverage.
Location-Location-Location
p.s. The wireless router is just a router and an access point in one. You can run it as just an access point if you want.
Posted by sagitraz