What am I doing wrong here?
Is your PC connected directly to the Ant? Are the Ethernet port lights on/blinking on the PC? Are Ant's fans on?
Sorry, I don't remember what the Ant's LEDs should be doing.
1. I've tried it directly connected and to the router. Result is so far the same.
2. The ethernet port lights are not blinking.
3. The fans are both on.
Do this with direct connection only. Try another Ethernet cable. If Ethernet lights are not on and/or the connection icon on the PC has that little red x on it, you don't have a connection with the Ant, and this is before it even comes to IP addresses etc. Could be bad cable, or bad Ant (I'm assuming your PC's Ethernet port is working).
Edit: one more thing to try would be to connect the Ant to the router just to verify if router's Ethernet port lights come on. If not then there might be something wrong with the Ant. Try resetting it.
Keep in mind that if you direct connect the ethernet cable you'll need a crossover cable or a special crossover adapter like this one for that to work properly.