I'm having the exact same problem where with my other MPB, it's the 5.1 model.
The 6.1 model that I have is fine.
The thing is:
Suddenly, although, *the Bluetooth stopped working*; and it show the message: "*Not Available*" in the right-upper-corner of my screen; and simply the Bluetooth doesn't show up anymore in the "System Preferences" pane.
(Same has you)
installed Leopard (original DVD that come with the MBP 5.1) and the Bluetooth problem is solved.
Snow Leopard 10.6.0 Is just fine.
Then When I make de combo upgrade to 10.6.7 at some time there it is, Bluetooth - "not avaiable"
Even entering in single user mode "CMD+S", I can see a LOT of bluetooth errors going on
No solution a tthe this time.
Staying in Leopard, until ther's a solution to this