Here's what I've learned and the temporary compromise I've made to keep my sanity. Like everyone here, I have experienced the WiFi connection loss on my iPad.
I have a Sprint Overdrive 4G/3G WiFi. My iPhone gets along with it just fine in every security mode. But My iPad only likes it without any security turned on. Now that it's all turned off, the iPad's WiFi connection holds on for a good long while. I was experiencing a similar issue with my ActionTech router from Verizon at home.
Here is the specific troubleshooting storyline. The initial symptom I experienced was that I would be surfing, watching a video, or downloading an app when the fan symbol would disappear and what I was doing would freeze.
When I would go into the settings menu, the network would not be connected and if I searched for it, it would appear right away. My WiFi router's front panel showed that it's signal was stable with Sprint's network. I was connected to it via a WEP password, which I have used for sometime with my iPhone.
When I attempted to rejoin the network, I would be rejected. The only way to reconnect was to "forget" my WiFI and renter the password. Then i would go back to way surfing, viewing, etc. and the connection would be dropped again in a few minutes.
Suspecting the security mode settings, I tried without any security. After much to-ing and froe-ing, I was able to get everything reconfigured. My iPad works perfectly in this mode and has not dropped a connection since early this morning.
Because I don't want to run my wireless networks without security, I tried both WPA and WPA2. They each exhibited identical behavior to WEP mode.
Until Apple gets this security issue resolved, I have to compromise my home and road WiFi security. That's not acceptable for me.
Sigh. What a great device we it works though!!!