In my case the problem was router firewall/DoS protection related.
I've been plagued with unreliable connections since Lion and after a weekend away using someone else's WiFi realised that I wasn't getting the same problems using their router. When I got home I checked my own router logs and found a lot of "SYN FLOOD ATTACK" entries relating to my MacBook Pro.
A quick search around (once I got the WiFi working again!) lead me to this http://forums.mozillazine.org/viewtopic.php?f=38&t=883835&start=0 which explains how an over sensitive router security setting can make it think something untoward is happening and kill off the connection.
In my case the router's "Maximum incomplete TCP/UDP sessions number from same host" setting was at the default setting of 10, after increasing this to 30 (some people have set it as high as 50) Safari demonstrated a very noticable improvement in performance and reliability. To date it hasn't faltered and the router is no longer logging "SYN FLOOD ATTACK".
I'm speculating that Safari (or Lion in general) is substantially more aggressive when accessing the Internet/network and this is upsetting some routers and making them close down connections (I think mine kills it off for 300 seconds by default) believing that it is involved in a DoS attack.
I'm not claiming to have the definitive answer, but the simple router configuration change I made has made a big difference for me and if you've not tried it yet then why not give it a go?
Message was edited by: Coupaman - Corrected confusing typo