Well basically ther are few requirements that need to be met;

1.) You need to be running a NAT enabled kernel.
2.) You need to load a different firmware file to wl1271. (default is /lib/firmware/wl1271-fw.bin which does not support infrastructure AP)
3.) You need to assign IPv4 addresses, DNS parameters and routes to clients with DHCPD.

How joikuspot gets around these things; it routes the packets via userspace which is a silly and unnecessary way to do it
This is only done as for some reason the IP forwarding&nat functionality was not included in the default kernel....