I have a Linksys router, WRT150N, and never had a

Don't need to reset the router. IF you reset the router you will loose the connection on the wired computer also.
So your laptop is not able to go online. but your desktop is able to go online that means there must be a problem with the wireless connection.Check the wireless settings on the router.
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With the wrt150n there has been reports of dective wireless althogh you may only need to turn off do a factory reset at times and check for a update verion of firmware .

When doing an update to a router it is a very good idea that you have a UPS battery backup in good working condition hooked to the computer and the router in case of a power spike or outage if you have problems from power during the flash you will have even more problems trying to recover the router I do this often relash routers firm ware trust me it is not somting to atempt with out a UPS battery power backup.
Less hope all you need to do is resset the router to factory defaults..
Router turned on
press and hold the rest button on back of router till lights flash 30 sec.
unplug the power on router
WAIT one min then turn router back on
Wait one more min. then hook router back up
you will need to reset all security if you have set wifi security
http:/198.168.1.1 then admin will alow you back in to router setup
I hardly ever set security on routers leaving them open has advantages if you live away from other wireless users .

If there is no wireles signal from the router then you may need to return for repair .
Remember it is a good idea to turn off router and cable modem's at least once every 30 days so they may renew their configuration and clear memory .when ever you notice a problem always turn the power off the modem and router first before doing any re flashing of firmware.this way you will know if theire is a true problem . never reflash or upgrate firmware unless you are having a problem somtimes newer is not always better.
I konw this is a long post yet I can not express the use of UPS battery power backup My self will not turn on my computer ore routers if not present.
you need more help let me know