After intalling EFI 2.7, no network connectivity

I have a late 2011 MacBook Pro 13" running Lion. I installed the recommended 2.7 EFI update (which was advised by the system update utility) and after the reboot, I could not access any network resources (couldn't ping the router). The information provided showed that I was connected to the WIFI AP and had a good IP Address (provided via DHCP). I connected an ethernet cable and got a new IP address in both cases, I was unable to ping the gateway IP address. I tried clearing the PRAM and NVRAM but no success. I booted into the restore console and the wifi access there showed my Time Machine backup (connected to my Airport Extreme). I was confused by this as when fully booted, it wouldn't show anything on the network, but in the restore mode it could. I have begun the process of restoring from the previous backup which will take a few hours, but wanted to see if anyone had any other suggestions.

Thanks in advance for the help!