Based on what you've said, this sounds like an issue with a proxy arp cache on the AP. Out of curiosity, do you have any VLANs configured on the device?
Greg,I couldn't reproduce this problem the last time I looked at it, but out of curiosity, what iPhones are running into this problem? Do you happen to have version numbers? This doesn't happen on the iPhone 4, but that's not to say there isn't an is...
I just tried a WAP2000 with the latest firmware on my iPhone 4 and couldn't reproduce the problem. Do you have a sample configuration that you can export and attach here? That might make it easier for others to figure out why this is happening.