In the menu of the access point under Wireless Settings> Security Settings can change it to "Key Renewal Interval" of default to 3600 seconds (1 hour) is. If I set the value to 60 seconds, I can no longer access to a little more than 1 minute with the iPad to the Internet. If I set the value to 9999 seconds, or just over 2 1/2 hours, then I can surf without problems a few hours. This can then live reasonably. I also tried out everything: WPA-AES, WPA-TKIP, WPA2-AES and WPA2-TKIP: the problem occurs in each mode. With WEP, however, the problem does not occur, but unfortunately WEP also provides virtually no security. Everything But WPA2-AES should rather be omitted if you want to have any "unwanted visitors" in its network.
But apart from a really top-device. I hope the problem will eventually resolved by a firmware upgrade (then there are five stars). Although I believe that the iPad is more the issue. With my laptop and my Nokia phone The issue is properly!
The device seems incidentally identical to the Tenda W150M. I think Tenda is the actual manufacturer in China.