It's just annoying that they did not come clean from the start and say "yes, some users will experience this issue, we are working on a fix and will provide replacements"
And #2, Apple needs to promise to handle these kind of things better in the future.
There are times for the "downplay the issue" card and this clearly was not one of them.
I agree with most of what you said except how they handled it. You even point out... this is week #3 for the phone even being out there. Seems to me like they did it right... don't worry about the press and worry about finding out what the real problem is and come up with a cost effective fix. Then come back and let us know.
If Apple would have come out in week one and said "oh crap, there's a design flaw and we need to fix it" sure we would have felt better, but phone sales would have come to a screeching halt. Now, if you're not sure if you can fix it with SW updates or have to do a recall, you're going to keep the sales going and focus on the fix.
Remember... most of the negative press has been perpetuated by people that don't even own the darn phone. There's been a lot of humors and false statements floating around.
Personally... I'm just glad to see there is a press conference tomorrow and looks like we'll know soon what our options are. At least they reacted fast to one of the hottest selling products ever.