I have a 27 inch i5 iMac 11,3 running Snow Leopard. (Currently 10.6.8) and have experienced the classic Airport issues discussed in this thread and so many others. I am writing to put on record something I noticed - not that it constitutes "a solution", but might be a useful clue for somebody trying to make sense of this mess.
I had my Mac for just over a year with no wireless issues. Then I started losing connection to the router, but of course could reconnect with an airport restart, every hour or two and then after trying various things (clearing caches, PRAM etc, moving right next to the router, changing router channels...) - things deteriorated to every minute or two. I actually spent most of a week on this and have caused myself a lot of personal and work problems. No computer bug ever got to me like this one and I am a veteran of MANY unhealthy all-nighters and all-weekenders. I'm a Linux guy and have only gone with the one Mac box because I thought it would be a good move for work productivity. (Wrong, wrong, wrong!)
Finally, I wiped my drive and reinstalled. Airport would then stay up only for seconds. It could load a single Web page or return two or three pings. I ran updates and then was back to the Airport connection surviving for minutes to half an hour. It talked with the Mac Store. They wanted to replace the Airport card for $250 - and/or sell me an Airport router. I'm not going to rage about this. Nobody knows much, and that might have fixed things somehow, but it really seems that the card is OK and my router is certainly fine. As everybody mentions, other devices on their WLAN have no connection issues.
What I did notice, while endlessly changing encryption schemes and router parameters, is that if I remove ALL encryption I have no connection problems. Although that might be an OK solution for somebody whose only unencrypted activities would be some web browsing and everything else is tunneling anyway, the guys at work won't let me do it. So, to run WPA2 personal I gave up and switched to an ethernet converter.
This has been a long post and I apologize, but it might be yet another piece of information pointing to the driver. I wish I could remember whether there had been an update just before the problem surfaced. Unfortunately I just can't take the time to do more diagnostics, but I felt a responsibility to all the people who have been posting on this stuff for years to put down my experiences. And I presume somebody at Apple occasionally takes a look at this embarrassing thread.