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ALL FIRMWARE should be updated. More info: https://betanews.com/2017/10/16/krack-wpa2-security-vulnerability/
Answered my own question -- R7000 Firmware Version 1.0.9.12 DOES NOT address the KRACK vulnerability. No newer version of the firmware is currently available. See: https://kb.netgear.com/000049498/Security-Advisory-for-WPA-2-Vulnerabilities-PSV-2017-2826-PSV-2017-2836-PSV-2017-2837 That page simply says the "Netgear is aware of the vulnerability", and then they try to play down its significance. They make no statement about providing patches. Very disappointing -- maybe time to upgrade to a brand that has patched this.