Yes, I have only one WAP200E (with PoE) and it pressents the same issue. I have it configured with open security, 1 SSID, I mean with the simpliest configuration and it still looses wifi connectivity. It presents the same sintoms:
web interface still works, clients see a signal, but cannot connect
I even updated FW from 1.2 to 2.0.0.27.
Attached is the actual config