http://tapir.cs.ucl.ac.uk/bittau-wep.pdf

Worried about continued toWEP at home, this new research finally provides a crack that's usable, within a few hours.  You'd need access via another connection to a host already on the internet, some carefully selected hardware and this new software, but you can in about 2 hours read all the traffic, and connect to and use the network. Time to change encryption