The Tenda A6 (apparently a sister company of TP-LINK) is a very cheap (USD 15 shipped, e.g., on Aliexpress) router with onboard USB, WLAN and Ethernet, powered by the RT5350 chip. According to http://wikidevi.com/wiki/Tenda_A6 it has 4 MB flash and 32 MB RAM.
From what I could find on the net, this appears to be one of the lowest-cost routers that I could find with hardware that appears like it could work in OpenWRT. Also, from the pictures it looks like there are large easy-to-solder pads for a serial console on the PCB.
Might be a serious contender for the TL-WR703N.
Is this supported, or is anyone working on it?