I am not so sure about the ability to flash the 802.11b cards to make them become 802.11g cards. 11g uses a different encoding method then b. It actually uses Orthagonal Frequency Division Multiplexing (OFDM), instead of Complementary Code Keying (CCK). 11g can still use CCK to make it compatible both forward and backwards with 11b (ie, a 11g ap will permit 11b clients, and an 11g client can talk with an 11b ap.)
I am not sure if there are any hardware assist circuits in the 11g cards that would allow for a higher throughput. If the radio is all done in software then a flash upgrade would make sense. If the radio has any hardware components, then a swap of cards would be necessary.
OTOH, I don't see why you couldn't buy an 11g card and slap that puppy into your airport. At home, for me, it won't make much of a difference. I have 768k sdsl. At work though, it would be awesome. We have a 800 access points spread across campus, and are currently testing 11a access points. I think the real winner is 11g, though. It retains the current investment in hardware, and hopefully will not require us to redesign our wireless network.