Originally Posted by frankmoc
Older model BlackBerries had a Bluetooth bug. If you disabled the Bluetooth Activity LED, the BlackBerry would be unable to maintain the connection. If any of you have disabled the LED (I know the OP said his was flashing), then try enabling it and see if that solves your problem.
I have disabled the LED for some of my other programs but not for my blue tooth. I am not sure if this would have the same effect on my blue tooth.