Hello,
First, sorry for my english (I am french speaking).
I reply to this topic because I have a similar problem (unfortunately I can't help you).
This problem concern a 350 Pccard client.
The card works perfectly with my Jornada 720 (Handheld PC).
But not in a laptop running Windows Millenium.
Like you, the devices associate and AP "sees" the MAC address but not pass an IP address.
In a way it's normal because no protocol can be linked to the 350 (easily to see with the net control panel).
However, in my case, the card worked perfectly with the bundled Cisco software (ACU 5.05). But no more after an upgrade with the last "Wizard 1.1".
I tried of course to return to the ACU 5.05 after a complete suppression (regedit included), but no way (no more possible to link any protocol to the card).
Thus it looks clearly like a Windows or driver problem.
I am afraid that I must reinstall Windows to make it work again.
Regards,
Jackbel - Bxl