You can get the wifi cards replaced, and sometimes the antenna cable can come lose as well so it could be something along those lines.
You should try the usual shiz for a quick fix though, couple of pointers below:
1 - Power Management Reset: Unplug everything, all peripherals + power cable, leave for 30 seconds and power back on.
2 - PRAM reset: Boot up and before the apple/chime hold down ALT + CMD + P + R and keep them down until it chimes 3 times. Then boot up.
- These 2 don't always fix things but it can't hurt to try them, and Apple will ALWAYS ask you to try these first.
3 - Check in System Preferences > Network. Under the list of different network connections, there is a little cog. Click that and choose set service order. Drag the airport/wifi connection to the top and click apply.
4 - Try a new user account for a couple of days and see how it performs. If you do that, follow step 3 before you start testing as well just to make sure you have optimal testing conditions.
That should get you going, it's a mid 2007 so it's not the youngest Mac in the world, and if you did an upgrade install rather than a fresh install of Lion you might benefit from a fresh install, but see how you get on =]