i managed to solve my issue...
i had 7.5.2 running in bridge mode with this topology:
internet adsl router -> airport extreme 3rd gen (wan port)
gigaethernet switch -> airport lan port
various wired devices connected to eth switch (including imac)
various wireless devices connected on 2.4ghz to airport (apple tv among them)
time capsule expanding extreme wireless range
this network was running reliably for more than a year.
when the airport detected 7.6 was released by apple it went to orange blinking....
everything kept running with a single exception: wired to/from wireless were not handling dhcp requests as before
yes this happened without anybody touching anything on the net (it just stopped working)
first thing i did to troubleshoot it was updating the airport to 7.6 using the imac (airport tool 5.5.3 on lion).
after flash was complete... airport hanged and nothing worked (not even internet connectivity)
factory defaults restore by holding reset button on powerup....
tried again setting the aiport with initial values to allow simple internet connectevity.... no luck
every time i tried to save the settings the airport hanged and factory rest was required....
i thought it was 7.6 issue...... so rolled back to 7.5.2
tried again and again (factory reset with button and setting basic bridge to get internet.... no luck)
thought it was osx 5.5.3 airport tool... so downloaded (by connecting windows laptop directly to dsl router) the 5.5.3 airport tool for windows..... tried again all the process ... no luck
then i tried factory resetting again and configuring basic setting with ipad... and it worked.... i had basic internet thru airport...
so back to osx airport tool to configure the remaining settings not available on ipad simple tool (like enabling 5ghz etc)... and airport hanged.... rebooted and i noticed all changes were not saved (only the ones done from ipad were kept)... tried many times.. no luck...
so i thought it was 5.5.3 tool that was faulty.....(tried 5.5.2 on snow leopard)... same thing...
i then turned off airport extreme thinking it was hardware faulty and tried everything again on the timecapsule as main station... same results...
solution:
disconnected the lan cable from the airport (kept only the wan connection) and everything worked good over wireless (osx lion 5.5.3 with airport 7.6).. everything worked fine lastly...with one exception:
dhcp requests are still not relayed between wired and wireless segments...
it seems airport 7.5.2/7.6 and/or airport tool 5.5.2/5.5.3 has some kind of issues when having wired+wireless connectivity when configuring... if i connect the wired ethernet i can replicate the issue everytime...
too bad it took me 2 days of testing all possible combinations to find out what apple did not...
please apple fix this asap....
hope it helps somebody out there ....
good luck