I'm using the '11 MBA13. I'm a bit perplexed that it locks the mouse for a second or two (some times also beach balls) when you wake it up from standby. My 2009 MBP13 with SSD was faster at waking up from standby.
this is by far the slowest mac I have had waking up. Not sure if it is Lion or just the air. Regardless I would expect this behaviour to be fixed in an update. Lion is buggy as hell it is far worse than snow leopard 10.6.0
I had an identical problem (minus the fact that neither laptops were mine haha). Played with one friend's 13inch 2011 and another friend's 11inch 2010. 2010 11inch was about 1second and almost absolutely instant with the mouse control (also consistently like this). The 2011 13inch was about 2seconds to 4seconds (completely random as to how long it would take...sometimes I closed it and opened it straight away and it would take 4seconds, sometimes leave it for an hour and it would take 2seconds), and mouse control takes another second or so. Bit disappointing and makes me think twice about the 2011 over the 2010 (although I really want backlit, Lion, new processors etc...JUST FIX IT APPLE)