I have multiple Macs running off of one Airport Extreme. Yesterday, I completed the Software Update of the Airport Express.
At the end of it, my G5 tower stopped seeing the Airport, and hitting RESCAN did no good.
But my 15" laptop completed the Software Update just fine, and had no problems seeing the Airport afterwards.
So my problem seems to be with the G5 Tower now, and not with the Airport base station.
Both machines are on 10.5.6, but the tower is PPC and the laptop is Intel.
Doing this hard reset does not seem a good approach for me, since the laptop is seeing it fine, and it seems to be working properly.
I wish I could re-download the Software Update for the G5 PPC tower though, although when I ran it, it reported no errors or problems the firs time.