I'm going to give this a mild bump because it's such a beautiful simple solution and it really worked. After 7.6.1 'settled in' for a day, my new iPad was seeing downloads at 24 Mbps, the laptops were fine, but my iPhone 4s and my wife's 4 were both almost dead in the wifi water, dropping connection, barely able to download email, forgetting the wifi password... I thought it was the phone, reset the network settings, did every kind of restore available including a DFU restore, a trip to the Genius (humph) Bar, and much more. But simply resetting the channel on the AEBS fixed it all in 10 seconds.
Steps in case you need them:
1. Run AirPort Utility (I'm going to assume you got the new, GUI, dumbed-down version)
2. Click on the AEBS image and then Edit in right lower corner of the popout.
2a. If you're new to the utility, it will ask for your AEBS password first
3. Click the Wireless tab at the top, then the Wireless Options... button at the bottom
4. In the 2.4Ghz popup, click 8 or 9 or 11 or...
I may fire up iStumbler to see if one channel is 'most open', but the simple solution near the top of this thread made my day. Thanks!!!