I have a late 2008 15" MBP (5,1) with the AirPort Extreme (0x14E4, 0x8D) and Broadcom BCM43xx 1.0 (5.106.98.81.20). My router is a Buffalo WZR-HP-G300NH. I have the same problems as you guys - WiFi looks like it's connected, but will drop all connections. Strangely, I can still ping anywhere I want, but no other traffic works. It's like ICMP works but the TCP/UDP stack is breaking. I have gained nothing going from Snow Leopard to Mountain Lion (clean install) and this has really soured it for me. I hate when it breaks while I'm playing an online game, or chatting online with a friend.
Can anyone tell me where the kexts would be from SL? I have a backup.
10.8.1 can't come sooner.
Edit: I should say, I work in IT. I've tried changing my MTU, DNS, keeping a constant ping (keepalive), changing my router's channel, channel width, and nothing has worked. I'm using WPA2 Personal. The thing that boggles me is that it's seemingly random. One day I had it happen 5 times within 20 minutes. The next day, it didn't happen once. I didn't reboot in between.