Here's at least one piece of iPhone 4 news that isn't “insanely great”. A number of early users have begun reporting a curious issue with their new smartphones (via BGR). The new iPhone has its wireless antennaes built into the frame, and apparently holding hat frame in the wrong way can disrupt your signal.
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As a number of videos dramatically demonstrate, holding the iPhone 4 in the palm of your hand can cause your signal to drop down to nothing. Protective cases have also been cited as causes of the issue.
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To regain signal strength, simply remove your case and set your smartphone down flat. This works, but affected phones are still pretty much useless in any practical sense. Buyers beware, at least until Apple addresses the issue.