I have the same issue with slow internet post Lion install. I have MBA 2010, TC and DSL modem in the basement and use Airport Express to extended my network upstairs. Was getting spotty internet speeds and connection post Lion. After combing through this entire thread and others, here is a summary of what I did to get my system back up to normal (at least for the last 24hrs). Here is what I did
1. Remove my existiing network from my Preferences on MBA
2. Turn off Wifi on MBA
2. Do the PRAM and SMC reset, power down after the resets
3. Unplug Airport Express and do a hard reset and ensure firmware uptodate (7.5.1) and re-link it back to my TC (I am thinkng there is a bug in the Lion update w Airport Express or TC (1st generation)
4. Replug Airport Express, wait for green light
5. Fresh boot up of MBA, open Wifi connection, reestablish network connection and voila, all good. back to 25mps
Was one step away from a reinstall of Lion and failing that a call to AppleCare...and most likely an uninstall back to SL and wait for the update (sigh).
PS let's not talk about the fan noise post-Lion here! Lion is meow not a roar.