Share your experience!
I have two issues I would like to get some feedback on:
1) When I just bought my Xperia Z, there were no connectivity issues and everything worked just as it should have. After the first update, the phone started to have trouble with connecting to mobile network data services (GPRS/EDGE/3G/HSPA), despite the fact that the signal was strong and there is a mobile data service in the area. To correct this issue, I have to turn my WiFi and mobile data off and then turn the mobile data back right on. Mobile data is then magically appears and works without a problem. Also, if I do not turn the WiFi off, this trick doesn't seem to work. Once again, this issue appeared only after the first update. The second update didn't fix it, as I was hoping.
2) "Location based Wi-Fi" feature seems to connect to WiFi only when I turn on phone's display. Before I do that, the phone seems to stay on a mobile network data connection, no matter how long I have a working WiFi available in the area. Combined with a the first bug I've described, this often puts me to a state with no connection at all without me even knowing it.
Those two bugs are really frustrating and annoying, making me considering changing the phone.
Please advise on how to fix those issues or would there be a fix in the next update?
Okay, in fact that basically a nice feature.
Since I found out that WiFi itself causes the issue, I guess everything will work fine, when "WiFi" gets an "upgrade". 
Not that I know of, but I believe it would come out eventually.
May I ask where I can find the feature of "Wifi by Location". I could not find it anywhere on my mobile. Thanks!
Why, you want to ruin your phone so it doesn't turn on mobile data when needed? 
It's found in: Settings -> Power Management -> Location-based Wi-Fi (3rd option)
lol.... Nooo... because I am facing the same problem as you guys but I am not sure if I am with the Wifi problem. Thanks!
However, now I found that the wifi by location has not been turned on at all, althought I still often face the connection problem on mobile data for the time being. That means the Wifi by Location is not the cause in my case.
Of course, you are right. The issue is connected to wifi itself. The automatic switch between wifi and mobile data does not work, when you leave your wifi network.
Maybe I'm wrong, but my observations drew me to the conclusion, that Location-based Wi-Fi makes the problem even worse.
But, you never know, until you see the actual code 
After using the new SIM-card, I recognized a new behavior concerning the mobile data: as long as I am in my homebased wifi, the mobile data part is automatically switched off. It's basically gsm only. When getting out of range, the phones signal switches to mobile data, indicated by the small E, 3G, H or LTE and the small arrows showing up- and download.
Any conclusions? 
Update: nothing changed. The issue still exists. In the first step, it seems to work, but in the morning it's still malfunctioning. 
...crappy phone...
It is getting worse: WiFi deactivates the gsm part too, when connected. I am absolutley fed up with this. My phone is more unstable than before.