extending wirelss network... will this work well?

I currently have a Netgear MR814 v2 wireless router plugged into my
cable modem. This is in the basement. I would like to have better
wireless coverage upstairs as well.

Would it work if I got the Netgear WG602, which can act as a bridge or
repeater, and located it upstairs? I am only using 802.11b so the
higher speeds are not important. Does anyone know if the WG602
(802.11b/g) will communicate and repeat or bridge with the MR814 (an
802.11b only router)?

Thanks,

Scott