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It is fully compliant with the latest draft standards. It uses MIMO technology (40MHz wide bandwidth), and operates in the 2.4GHz spectrum. And it is true gigabit ethernet for wired devices (the spec sheet does state gigabit, several times actually. I checked the sheet, and I'm getting gigabit throughput between my two wired machines plugged into the router. It's also important to realize that gigabit is way faster than even the fastest DSL or cable modem, so that measure of speed is only relevant when communicating between 2 computers that are both plugged into this router via an Ethernet cable.) Buying this won't get you a faster connection to the internet.
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