I give both my 2.4 GHz and 5 GHz networks the same SSID & same password and let the devices automatically choose the best frequency. I have logged into my router and I can see what frequency the devices are on and see them switch back and forth between the two frequencys as needed (as a device gets further away it switches to 2.4 GHz as it gets closer it switches back to 5 GHz). Not sure how all routers handle this, but my ASUS router handles this perfectly. My router never gets rebooted. And I have not had any issues at all. All my devices are wireless, a desktop, couple laptops, couple Apple TV's, a kindle, several iPad's and several iPhone's not to mention all my friends and family use it when they come over.
I can say that this works well with Time Capsule as well, but for various reasons, I've decided to split them up regardless. Automatic switching works flawlessly however, and can be monitored with AirPort Utility