You forget that some of those who had wifi issues in Mac OS X did not when they booted into Windows 7 via BootCamp. (I'd really like to see more people with issues try to install Windows 7 and report their findings — you can try it without a license for a month).
Then there's the bloke who lost touchpad functionality simultaneously with losing wifi — and saw a power management event in the log at the exact same time. Plus the guy who said his phone wouldn't charge properly over the USB port on his new Air.
My guess is that this is indeed power related. I'm speculating that Apple are pushing power consumption so low and so close to the absolute minimum that they cross some operational margins of one or more chips, which causes these "blackouts" to occur. We do agree that this is the least power hungry and highest stamina laptop Apple ever produced, right? That would also explain why not only wifi, but also a USB device (the touchpad) would fail. And why the USB port doesn't supply enough power to charge a phone. Would be interesting to know if those with issues experience fewer issues when on AC power than when on battery.
This could explain why some people have fully functional systems while others don't. All chips have rated power requirements, and all chips have margins to their specs. The quality of any piece of silicon depends on a number of factors which is why, for instance, Intel makes processors that are rated to very different power and GHz specs from the same wafer of silicon. The closer to the center of a wafer you get your chip, the better it gets. If you push any chip to the very extreme of either performance or minimum and maximum power tolerance, you can't expect that to necessarily hold with another chip with the same SKU, not even from the same batch. In this case, the extreme would be minimum power supply.
This would also line up nicely with the reports of no issues in Windows 7, where power management is different (and battery time lower, i.e. more juice is given to each chip).
It's just speculation on my part, but it adds up in my head I'm guessing we'll se a software fix, and with it a drop in battery time. And this is why it's taking Apple so long to fix, because they really don't want battery time to drop after this massive marketing of 12+ hours of cordless action.