Hi
AFAIR By default this last config (SME as server-gateway connected to WRT54g and this one to internet) will give to WiFi clients a LAN IP addresses.
No you can have different IP ranges, that can not see each other.
Suppose the WRTG54G is configured to handout IP addresses in the range 192.168.x.y/255.255.255.0, you could assign either 10.0.a.b/255.255.255.0 to your SME Server is server-gateway mode or if you really want to stick to 192.168 subnets, you could also choose 192.168.!x.y/255.255.255.0.
You will have to configure you WRT54G to forward certain requests to the IP number assigned to your server (e.g. 21 (ftp), 25 (smtp), 80 (http), 443 (https) to name a few common ports).
You initial setup is very uncommon, why do you want hotspot clients behind your gateway (in your LAN) if you do not want them to access the LAN at all?