I'm having a similar problem. It doesn't bother me when reconnecting, but every 30 minutes to an hour it will just stop working, yet it still shows that it's connected. I have to turn off/on the wifi, then it reconnects and works just fine for another little while.
It's been happening non-stop since the .1 update. It's driving me up the wall. Actually, I'm getting pissed off at how ****** Apple's recent updates have been.
I've also been experiencing a lot (1-3 a day) of graphical bugs which render my system almost completely useless, until I restart it, since the update, too. I've probably restarted this 2011 MBA 13" 256GB more times in the last week than my MBP in the past year. :|
Yes, I reset the PRAM and SMC. Not sure if the SMC actually reset or not, since the LED on the magsafe didn't change or anything.
Fans have been pretty whack since the update. 10% CPU and they're running full blast!