Read below and use at your own risk. You may get lucky. The firmware I would run the new AX86U on is 386_49599. The new 388 has more features, but not ready yet in my opinion based on my tests. There are still broken things on latest 388_22068.
I am gonna replace an old AC86U with an AX86U. After installing merlinwrt, is there a way to "copy" my settings over? Or do I have to reconfigure the new router step by step? I'd like to keep settings, DHCP allocations etc. if possible.
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My advice is reset to factory defaults when you upgrade to 388 firmware and start fresh. The above may or may not work for you.