Just found out something interesting - I backported the libertas driver in mainline to -hh20, made some tweaks etc. . Well ... with wifi enabled in palmos, it is possible to set the card to ad-hoc networking in linux, assign essid and the device can be then seen by others ... but it crashes kernel when you connect to it, which might also be a result of my fast backporting of lbs driver .... well if anyone feels like hacking on it, I will put the patch and some photos here later.

Update:
patch is here http://marex.hackndev.com/wifi.patch.bz2

Update2:
here are the photos:
http://marex.hackndev.com/p1020400.jpg (notice what's on the left)
http://marex.hackndev.com/p1020402.jpg (it was detected)
http://marex.hackndev.com/p1020403.jpg (palmtx crashed)
http://marex.hackndev.com/p1020404.jpg (but it connected)

Update3:
here is a log of what I did in console

root@palmld:~$ ifconfig eth0
eth0 Link encap:Ethernet HWaddr 00:0B:6C:4F:57:8F
BROADCAST MULTICAST MTU:1500 Metric:1
RX packets:0 errors:0 dropped:0 overruns:0 frame:0
TX packets:0 errors:0 dropped:0 overruns:0 carrier:0
collisions:0 txqueuelen:1000
RX bytes:0 (0.0 B) TX bytes:0 (0.0 B)

root@palmld:~$ ifconfig eth0 up
root@palmld:~$ iwconfig eth0
eth0 IEEE 802.11b/g ESSID:""
Mode:Managed Access Point: Not-Associated Bit Rate:0 kb/s
Tx-Power=13 dBm
Retry limit:6 RTS thr:off Fragment thr=2346 B
Encryption key:off
Power Management:off
Link Quality:0 Signal level:0 Noise level:0
Rx invalid nwid:0 Rx invalid crypt:0 Rx invalid frag:0
Tx excessive retries:0 Invalid misc:0 Missed beacon:0

root@palmld:~$ iwconfig eth0 mode ad-hoc essid "palmtx"
root@palmld:~$ iwconfig eth0
eth0 IEEE 802.11b/g ESSID:"palmtx"
Mode:Ad-Hoc Cell: 02:73:72:03:0E:8E Bit Rate:0 kb/s
Tx-Power=15 dBm
Retry limit:6 RTS thr:off Fragment thr=2346 B
Encryption key:off
Power Management:off
Link Quality=100/100 Signal level=-256 dBm Noise level=-96 dBm
Rx invalid nwid:0 Rx invalid crypt:0 Rx invalid frag:0
Tx excessive retries:0 Invalid misc:0 Missed beacon:0