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Ok, first time I have done this ....

I'm having the same issue with a brand new v2862, except mine won't establish a PPPoE session.

My settings are identical to Iain's, however I'm running newer modem firmware : AnnexA_779517_773F01

Oh, draytek just told me to upgrade to this version!

Planning to do the upgrade this weekend, but guess I may go back a version quickly afterwards

Hi Iain,

I just received my 2862 today to replace a 6 year old 2850 which was starting to die a horrible death...
I've not done what you've done and reset to factory in order to do testing, I instead restored my 2850 config to a 2860 and then to my new 2862.
Got home just over an hour ago and was pleased to see that my DSL connection speeds are were 72/8 (previously 62/6) however I couldn't get the fsking router to dial the PPPoE, it just comes back with no response.

I've left one of the Openreach modems in place so I can get online... If I'm not feeling lazy I may go back a firmware version for testing.

Should not impact stability but suggest on VDSL MTU should be 1500.