Given that Wifi chips already have their own ARM CPU, at this point I'd rather have that CPU which already runs its own OS to just present as a network device to do NAT. Connect it to the fixed network, use a serial link - anything will do.
At least, I'd rather have anything but the current alternative: a device on the PCI bus having DMA with a firmware I can't audit.
Same thing with WWAN device by the way.