In the face of overwhelming evidence that the iPhone 4's antenna-bezel design is inherently flawed, and that reduced/lost reception is a documented fact, Apple's latest response is to…blame the way they calculate signal strength.
Per today's press release from Cuptertino:
Upon investigation, we were stunned to find that the formula we use to calculate how many bars of signal strength to display is totally wrong. Our formula, in many instances, mistakenly displays 2 more bars than it should for a given signal strength. For example, we sometimes display 4 bars when we should be displaying as few as 2 bars. Users observing a drop of several bars when they grip their iPhone in a certain way are most likely in an area with very weak signal strength, but they don't know it because we are erroneously displaying 4 or 5 bars. Their big drop in bars is because their high bars were never real in the first place.
We will issue a free software update within a few weeks that incorporates the corrected formula. Since this mistake has been present since the original iPhone, this software update will also be available for the iPhone 3GS and iPhone 3G.
Which means that, once the patch is installed, holding the phone the "wrong" way will merely display the signal drop more accurately.
Repeat after me: "We are so screwed."
Note from editor: We are finishing our iPhone 4.0 review