I finally pried the new laptop from my kids and got the built-in WIFI working. I also installed the proprietary ATI drivers so I have accelerated video and my Goggles DVD player actually goes full screen now. So basically everything works great on this thing. What a great way to spend 300 bucks.
I booted up the KNOPPIX DVD and loaded ndiswrapper and installed the bcmwl5a.inf from the driver directory that came on the laptop. I brought up the interface and fired up wpa_supplicant with my working wpa_supplicant.conf and bingo it worked. So I checked the versions of ndiswrapper and wpa_supplicant on the KNOPPIX DVD and realized the wpa_supplicant on the DVD was newer than what I was running in FC4. I downloaded the new wpa_supplicant and that got things working in FC4. I'm running ndiswrapper v1.5 and wpa_supplicant v0.4.6 (even though I see there is a v0.4.7 out that will probably work too).
Regarding the ATI drivers I was reasonably impressed with the ATI installer:
So, there are only two things I haven't tested on the laptop and that is the built-in modem and the S-Video port but I have no need for them at the moment.