Answer to first question is 'yes', Virgin assign addresses dynamically.
I would try setting up without using the wizard - your manual should give you the IP of the router configuration pages (I think it is 192.168.0.1 for netgear) & the username/password.
Then set it to obtain an IP address automatically & enable DHCP server - you shouldn't need any more for the basic setup, apply the change & re-boot the modem then router, then PC & it 'should' work.
Don't forget the security settings once it does work
