I receive the boot message:
Ai-Thinker Technology Co.,Ltd
ready
But I can't transmit anything. The only way I can transmit is to connect a multimeter across tx and ground (or rx/ground on esp) then transmit, which works.
I have (usb/level converter)
RX->HV2
TX->HV1
VCC->HV
GND->GND
Then (level converter/esp test board)
LV1->TXD (it's actually RXD on the esp because the board is mislabelled)
LV2->RXD (txd)
GND->GND
LV->VCC
Does that all look OK?