I and believe that those who claim to only get 2 or 3 bars of signal normally but do not experience the Death Grip don't have the iPhone 4 either.
I have the phone. I'll be perfectly honest with you, i have no idea what to believe anymore, and that's based on my own first-hand experience.
When i first got the phone, i seemed to be able to replicate the issue in areas with weak signal, like in the bathroom in my office or in the basement of my home. It wasn't a clear-cut "touch the spot and immediately lose 3 bars" result that some people seem to be able to replicate, but generally i appeared to be able to lose a bar or two when i had a weak signal by doing the death grip. When i had 5 bars, i could never get it to drop a single bar. And i was never able to completely cut off a signal, no matter how weak it was.
After the CR "bombshell" yesterday, i tried to replicate the issue on the way to work this morning. I live in the Chicago area, and have to drive from Naperville to Glenview for work. Those of you familiar with Chicago know that's quite a hike...over 30 miles of lovely rush hour traffic. Every time i had to stop, at a stoplight, or in traffic, i checked my signal and either put my finger on the "magic spot" or used the death grip. In probably 15 to 20 attempts to reduce the signal, i was able to make the bars go down exactly 3 times. One of those times i lost one bar (started with 3 bars). Another time i lost two bars (again starting with 3 bars). The other time, I lost a bar, then actually gained 2 bars back before the light turned green. None of the other times was i able to make the bars move at all (starting anywhere from 3 to 5 bars, between 10-15 attempts).
So, again, at this point, i don't know what to think. There is obviously some kind of an issue because various independant parties have been able to verify some kind of attenuation (sp) factor that is higher than on other phones. All i know, based on my own personal experience, is that if there is an issue it doesn't affect me in any "real world" use capacity. I seem to be able to "sometimes" replicate it, but not all the time. And again, it's only when i have a weaker signal to begin with, and presumably once i get a bumper even this small issue will go away.
To those who own the I4 and have this issue and are actually adversely impacted for it, that really blows. I can't say why my phone doesn't seem to be impacted as much. And i'm far from an Apple fanboy. I once talked my parents out of buying a Mac because i thought it was too niche (Windows forever here). I do believe though that this issue is still being way overblown, even taking into consideration the report from CR that all the news outlets are picking up. I'm sorry but i can't believe all these posters coming out of the woodwork now saying that they drop calls 100% of the time bumper or no bumper, or immediately lose all signal just by merely touching the magic spot etc. I can't come close to replicating this kind of reaction no matter how hard and often i try, no matter how weak the signal is.
And the end of the day though, if the phone simply doesn't work for you, return it. I don't know what else can be done. But my experience is that the phone works great, the reception issue is negligible, and my signal strength over all is better than what it was with my 3G.
/shrug