Cruz T301: Internet Kick-Off
Rather than continue to add comments, I'll post this as an answer. Steps to follow to root your tablet and flash a custom rom:


backup your device
root your device
backup personal data and settings, if any, with titanium backup (you can skip since you did a factory reset)
install clockwork mod recovery
flash with Feyer's Resurrection ROM; seems to be the best supported; no reports of wifi problems; also make sure to read his tips on keeping the T301 working well.