1. It might look "cool" to some and might feel even cooler when Apple mention a random large amount of money, singing to the choir who are already easily wowed by shiny, but they're designing 'phones. They should have a test chamber.
It'd be like walking into a restaurant and the owner giving you a tour of the sink. Good. They have a sink. You need to use the sink as part of a hygiene routine, but you're not going to guarantee cleanliness just because everyone washes his hands. "Oh, wow, they have sinks, they couldn't have caused the food poisoning!" would be a horribly unsound argument.
2. The problem isn't that signals can be attenuated if you put your hand near/on the antenna. Anyone in the first year of any sort of analog electrical engineering study will have a grasp of that, and mobile 'phones have been designed with that problem in mind for nigh on 30 years. The problems are (a) the likelihood of proximity of hand to antenna position; (b) the amount of insulation between antenna and hand. You don't need a $100,000,000 lab to find this out, just one left handed person operating the phone on the move without a phone condom.
IOW, one day with any x-hander of Good Character[tm] who is able to sign an NDA would have been a very good investment for Apple.
3. The low return rate is misleading. In early weeks you are going to get a lower rate because you're selling more to fans than people going through their normal upgrade cycle, and fans have higher tolerance levels. What is more, Apple have been making unique promises: a software upgrade would fix the problem; a conference will be hosted to discuss other solutions; returns without restocking fee. All these are (yes, including the final one!) more likely to make people hold onto their 'phone for a while longer despite the troubles, for they are reassured that they have many alternatives.
The iPhone 4 is, by today's mobile phone standards, a fairly decent phone with an awful antenna position. Jobs could have left it at the "we're not perfect" rather than set up
the hilarious site which might as well have a flashing marquee, "All surfaces are covered with millions of bacteria. Not just ours. So if we cause food poisoning,
everyone does. And this irrelevant and tenuous argument is why you can't class action us."