My 655 V3 with 1.21 was showing degraded performance. Slow page load times, and it would just slow down over time. I took the plunge and upgraded my V3 655 to f/w 1.34. Overall I saw an improvement in performance from 1.21. The page loading lags I experienced with 1.21 were substantially improved and overall it was a lot snappier.
However, with 1.34 I experienced a problem I didn't have with 1.21. My N-300 wireless connections with Netgear WNDA3100 V1 wireless adapters, with latest firmware, would drop every 30 minutes or so and would not automatically reconnect without manual intervention (like restart the wireless connection or run windows network repair).
The WNDA3100's would show that they were connected, would show that they had a connection speed of, say, 270mbs; but they would lose their internet connection until they were reset.
The 655 supports both 2.4GHz G and N concurrently; but under 1.34 nothing I could try fixed it so the N's would not drop internet access. I tried every combination and permutation of Wireless options to no avail.
What was really interesting about this problem was that only the Wireless N adapters would lose internet access; the wireless G adapters would continue to operate just fine with no drops at all; even when the N's were dropping.
I have since moved to a WNDR3300 router. It's a dual-radio router and doesn't offer 2.4GHz for N-wrieless. It allows 2.4GHz G and 5GHz N, so in that sense is not an apples to apples comparison to the 655. It is handling the WNDA3100's at 5GHz just fine with no disconnects. My G adapters are also working just fine with it.
The wireless G large file transfer data transimssion rate on the WNDR is about double what I was getting on the 655. I haven't tested the N-Wireless speed yet on large file transfers.
So, in conclusion, 1.34 provided overall improvement in performance without degradation over a long period of time, as experienced with 1.21; but introduced a serious problem when running Wireless N using the WNDA3100 V1 adapter.