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My 201 module worked right away with the following setup:
3.3v connected to regulator output of 3.3v
GND connected to ground
CHIP_EN connected to 3.3v
IO15 connected to GND
IO0 pulled doen to ground with 10k resistor and pulled up to 3.3v with button when button is pressed
RST pulled up to 3.3v with 10 resistor and pulled down to GND with button when button is pressed
TX to RX on my FTDI module with chip FT232RL (on a hacklace device switched to 3.3v mode from fab4u)
RX to TX on my FTDI module
GND to GND on my FTDI module
USB of FTDI module to USB on my computer
FTDI driver installed on my Windows 10 computer and showing up as COM6
Arduino IDE 1.6.7 installed and serial monitor on COM6

My module shows the boot details when pressing reset or powering on even at 74880 baud:
reset leads to "ets Jan 8 2013,rst cause:2, boot mode:(1,7)"
power off and back on to "ets Jan 8 2013,rst cause:1, boot mode:(1,0)"

When switching to 115200 baud only gibberish shows up on boot but when pressing the button that pulls IO0 up to 3.3v then I can use AT commands to talk to the thing:

Ai-Thinker Technology Co. Ltd.


AT version: 5 2015 16:27:16)
SDK version:1.1.1
Ai-Thinker Technology Co. Ltd.
Jun 5 2015 23:07:20

(Set Wifi mode to both Access Point and STAtion:)


(List Access Points:)

Thanks for the good report - without it it would have been difficult. I also looked at which gave more details on the wiring.