Is the setup word used correctly? [duplicate]

I suspect the use of "setup" as a verb - in writing - is mostly due to laziness, not wanting to add a space.

Consider pronunciation though. When I speak, at least, "setup" comes out more quickly and the emphasis is on the e. When I say "set up", it's a bit slower because of the word separation and the emphasis is on the u, if anywhere. Do you hear that as well in conversation?

In any case, grammatically, I find no version of "setup" that could be used as a verb, and all the dictionaries I've checked so far have it down as a noun.