Just installed FC1 everything seem to work fine except browsing the internet. I can ping my router, lan IP's, and internet addresses (both names and IP addresses)
When trying to connect in a browser it times out "unable to open page" type message.

Check the contents of /etc/resolv.conf It should have your dns server numbers on there. Does your outer handle the dns? If so, your gateway ip should be in there. Here's my file

nameserver 10.0.0.2

If you need your isp's dns servers in there, follow the same syntax.

resolve.conf contains my dns server ip's
router is doing dhcp to client, giving ip and dns numbers, and is the default gateway.
Seems I setup everything in FC1 the same as I have in other version of RH and they all seemed to work fine.
What troubles me is the internet is reachable via ping, just can't brwose

Remember, pings are ICMP and web browsing is TCP so they are different. Make sure that your firewall is not blocking your access. If internal clients need to browse, be sure there is a rule allowing port 80 in the FORWARD chain and if you need to get out from the Linux box, be sure there you have a port 80 rule in your OUTPUT chain and an established/related rule in your INPUT chain.

You can tail -f /var/log/messages to see if things are bouncing off the firewall

Also check to make sure the browser isn't trying to use a proxy