It is worth noting that VoLTE usually carries a weaker signal. Meaning, unless you are in an area with cell towers in your backyard, you will usually get a poorer signal then with the 1xRTT ("O" or EDGE network if your prefer) that the calls use to go through.
I compared my dad's iPhone 5s (just got used) and my 6 Plus. I put both of them into field test mode and made it so I can see the actual signal numbers rather then the bars/dots (which can be horribly incorrect). Signal strength in measured in negative numbers. So if you get two readings, -97 and -102 the higher number (-97 in this case) is the better signal.
On his iPhone, while making a call with 1xRTT, it scored a -94. My phone, also placing call right next to his phone but on VoLTE got -114. Now, -110 is considered a poor signal. -120/-130 and above, well, is horrible. However, as soon as his phone hung up and was measuring the LTE strength and not the 1xRTT signal, it scored a similar -109. (Mind you, both phones were on iOS 8.1.1, both on a table and not in a hand, and with no case on).
This could also be the fact that VoLTE is still in its early days, true, but at this point in time you have to weigh the pros and cons. For me, the pros outweigh the cons but for some it might be the reverse. It is nice though that it doesn't count towards your data and instead your minutes. The first thing I thought while watching the keynote was "Crap, thats gonna use data".