I'd have to get a more detailed packet capture and reference some RFCs, but given DHCP isn't manditory, I don't think it would be harmful to the mac or network as long as the client's DHCP lease was still valid when it pulled this stunt, otherwise you could get multiple clients claiming the same IP address.
From a security standpoint rather than only revealing just your most recently DHCP-assigned address, you're revealing both the mac address of the nearest layer 2 device and gateway ip of (some nonzero number of) networks you've recently connected to. If a hostile network were to monitor the arp requests to successfully emulate a network the connecting mac had recently been connected to, the IP traffic prior to DHCP ACK that was abridged in the article would probably be sent again. Not knowing what it contained, I can't speculate as to if it would be any different than the network communication that would be done if connecting to a new network.
(Even if everything else was application traffic, I don't anything about the udp/192 protocol for airports, but it may be spoken with assumptions made about the connected network and a vector worth exploring).
There are many networking devices and techniques for hardening hostile networks at layer 2. Layer 3 is IP; to say level 3 (or 4) measures are not "real" is throwing HUGE swaths of security out the window.
If the ARP comes back with the cached MAC address for that network, the Mac continues using the valid DHCP lease it was given. It sends a DHCP request to renew that lease, and I assume would reconfigure the interface if the request fails and discovery has to start over.
From my recollection of the DHCP RFC, if a server hands you a lease for one week, you're allowed to use that address for a week, even if you go offline for 3 days in the middle. In practice, this may not be the case.
*I am not a security expert
Think of it like this. Your iOS device assumes that if it's on the same network, and it has a valid/current DHCP lease, it will use that address while it goes about the business of negotiating a proper DHCP address. The assumption is made outside the scope of negotiating an actual DHCP address.
A violation of the protocol would involve tricking the DHCP server or sending false information to the DHCP server. Neither happens here.
It's up to the network owner to decide whether or not this is acceptable. With a properly functioning network equipment, you should never encounter a failure of this assumption. If you have an unhealthy network, the assumption may fail more frequently, but then again, you're just compounding an existing issue that should probably be resolved.
In the end, we're talking about saving 10s every time you wake your device up. Ten seconds. That's significant. I use my iPad/iPhone very casually. I don't think about "grouping" my usage, because it works instantly when I pick it up. My network works properly, so I'm happy it's making these assumptions.
I could be wrong about this, as I haven't analyzed actual arp requests in ages, but from the article it appears the arp requests are unicast to the (at least in the example) cached MAC for the gateway.