I'll add to this thread in that I just got back from the Apple store with the same issue and basically the tech said that it IS a software issue and they were going to replace our Ipad 2. It took him about 15 seconds to tell us after we told him we were losing wifi signal so they are well aware of the problem. So, we are going to back everything up first then take it back.
I asked him if he knew of any patches to fix the problem that would be coming soon and he said no, as of right now the only fix was to replace the device.
I also told him that I had read on this site people who got a replacement and still had the issue. He said he personally has replaced 80-90 Ipads b/c of this and none of them have come back with the same issue.
I asked them if there was any particular wireless router or router setting to use and he said no, that it should pretty much work with anything.
So, hopefully the new one will work but it does not sound like any fix is on the way soon.