I did what Natalia suggested bud did not work for me. Wi-Fi constanly looking for networks, connecting for 5 seconds and than disconecting again. Suuuper frustrating!!!
I have two identical iMacs in two locations - one is on Lion on 60Mb/s optical network wifi with these connection problems. The other one on 4Mb/s connection and it works as it should.
In the flat where I have iMac on Lion I am also using iPad, wireless Apple TV and PS3 for streaming films, PS3, two smartphones, PC on Windows 7, wireless Time Capsule, Sonos for music - it all just works beautifully and is always connected but the iMac on Lion is constantly switching on and off and driving me crazy. When watching you tube video on it I can see how much of the video is being downloaded in those 5 seconds when wifi is connected and then it stops when wifi is off.
I am just explaing this is as somebody on forums suggested that when wifi is looking for networks one is still connected, just iMac is looking for better connections. Not true as data is definitelly not being loaded.
I compared downloading video on my PC and iMac - on PC it loads up on PC 50% faster
I have disabled in network preferences "Ask to join other networks" so iMac is forced to use my wifi. In network window is says that I am connected but the data download is patchy and Wi-Fi status bar constantly jumps between On and Looking for Networks.
Any advise is appreciated as this has to drive mad tons of poeple and so far I did not found on forums something that will actually. Not sure if it is time to look at Microsoft again with Windows 8 and number of good looking comps :- (((