Woo Woo Woes Gone Away!
Apple finally fixed the issue with my Macbook Pro WPA connectivity.
Airport Extreme Update 2007-03 is the answer.
I am glad they fixed it but I was a little disappointed that they took so long. Didn’t live up to their reputation on this one – and to make matter worse, they kept very quiet about the issue even though their support forums were full of disgruntled mac geeks.