For what it's worth, here is another data point:
I am using Time Machine on a variety of different hardware - a Mid 2010 Mac Pro, a Mid 2010 iMac, a Late 2010 13" Macbook Air. All are running ML 10.8.2. The Mac Pro and iMac are both backed up to a Time Capsule (via ethernet) and also to portable USB drives, while the Air is backed up to a (different) Time Capsule via Wifi. I am experiencing slow backups with all combinations, so I doubt very much that it is a hardware issue. My wife's Macbook Pro is running Lion and backing up to the same Time Capsule as the Air (also via Wifi), without problems.
For me, the symptoms are as follows: After a reboot, backups are usually fairly quick. However, they get slower with time. On the MacPro, at least, this is strongly correlated with an increase in the CPU usage of the kernel_task process. This usually hovers around 1% on the MacPro after a reboot, but starts increasing to several percent after roughly 4 weeks (currently at 4% after an uptime of 28 days). At the same time this happens, Time Machine backups start getting slow (often not finishing a small incremental backup within an hour). This behaviour is quite consistent, and does not appear to depend on how much the computer is used otherwise. After a reboot, things are back to normal.
Prior to ML (well, up to and including 10.7.4), things were fine.
While writing this, I decided to verify the MacPro TC backup. This got stuck at 83%. Reboot, and the verifiation passed in a few minutes. Did an incremental backup, very quick. Kernel_task now back below 1% CPU usage.