Im looking at getting a time capsule from apple and i was wondering if it can replace the MI424WR router. when i first got fios, they said i had to get rid of my old router so im a bit weary about switching.
See as need be: http://www.verizonfioswiki.com/index.php/Using_Your_Own_Router
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I believe you can use any one you want, as long as it has the correct connections on it that you need, unless you have fios TV. Then you would need to use the fios provided one. But that link above is a good place to start.
If you have FIOS TV you can plug their router into yours. You must set the Actiontech router's WAN to use a DHCP address and not PPPOE, it may do this automaticly. Also the ONT must use ethernet. If it does not, you will need to get VZ to change the setup on the ONT from MOCA to Ethernet, and then run an ethernet cable to you router from the ONT.