You can also ping the router as well. For an Airport Extreme it is usually 10.0.1.1 unless it is set up in bridge mode. Going here will tell you the Router Address:
System Preferences>Network>Show--->Airport>TCP/IP
For a Trace route it should take about 1ms or so to the router depending on how close you are. I am right next to my wireless router and I ping it at 1ms. If you can ping the router quickly then your Extreme is working its the Internet that is slow.