I upgraded and it works fine. The hdd problem is indeed resolved and the system is now happily connecting 1 iMac, 3 playstation 3s, 2 iPhones, 2 MacMinis, 1 MBP, 1 MBA, 1 HP notebook, 1 ASUS netbook, 2 Philips televisions, 4 iPads and 1 Arduino Wifi card. All of these connect at the first try.
To me it seems like a decent enough product after the update to 7.2.2.
To me it seems like a decent enough product after the update to 7.2.2.