I have had an Express for years... here is what it does...
a) Acts as Router when configured to NAT a public IP address and serves DHCP to everyone on Wireless. It supports port mapping (external port 5555 to internal IP and Port 192.168.0.50:22).
b) Acts as BRIDGE when configured to act like a bridging your Ethernet and Wireless Networks. DHCP can be handled by your Linksys. (hah)
c) Supports PPPoE for typical DSL connections or hook it up to your Cable modem.
d) Provides MAC address security, so you can limit which devices have access and which devices don't.
e) It can Join other Wireless Networks (wireless bridge between two wired networks) and Join WDS networks. So, you can
All that in addition to Printer & Music.
I have used it in bridge mode for what seems to be years and recently started using it as my primary router. This is not my ideal setup however, just the way I have things wired up. I plan on getting a Airport Base Station to be my primary router (or perhaps even some other manufacturer) and then use the Air Port Express to bridge an older PowerMac G4 400mhz that doesn't have an airport card in it, to my home network, since it is nowhere near a ethernet connection and I don't want to invest any additional money into it to upgrade it.
I have ZERO problems with it over the years, if anything, it has been "old faithful".