I understand that you love Linux (so am I) and that you want to setup AP with your gentoo distribution .... but if you just want to use your Ralink Wifi card as AP for your laptop or pocket ... and ....
if you can pick out one old PC with the smallest HDD you can find in your "basement" you are happy and you can setup this PC as AP using "m0n0wall" it is BSD based and the driver work fine in AP mode (master mode).
I was disappointed when I found that I must recompile all my Linux distro to get my Edimax card work as AP. lately I found accidentally that BSD driver "ral" can be set as AP.
I test it and it work ..... so next step is to put ....this "old PC" of mine somewhere at the roof with one omni antena .... and to enjoy WiFi with my Ralink based card.
SOrry if this is offtopic, I am just trying to help to other with problem like mine .....
I think that no one here want to use PC running Windows as AP ....
so I think that my proposal is acceptable ....
P.S. you need
- PC ≥ Pentium
- RAM ≥ 64МB
- HDD ≥ 10 MB (better IDE flash module ....or CF on IDE module)
- your favourite RaLink WiFi card
- you need to use 13b version (1.2 do not include this driver)
- at least one NIC
my PC even do not have Video card ... I set it up with null modem cable trough COM1
ok ok I am finishing already

one final .....
I found m0n0wall very easy to use ...... but it is hard to set it up with only one NIC, so I am giving the resolution here
let sis0 - your NIC
1)create a fake VLAN subinterface on sis0 and use that as a WAN interface (with some fake IP address, or just leave it in DHCP client mode), just to keep m0n0wall happy.
2)Then assign sis0 to the LAN interface
3) your wireless card to OPT1. (optional interface --asked after LAN and WAN)
4) Then enable bridging to LAN on the OPT1 setup page. No need for any firewall rules, and you can manage it through it's LAN IP address.