Mine does the exact same thing
Just got my iphone 4 today (Wed) and I also have no signal after picking up the phone in my left hand, with palm touching corner. My calls get dropped or I can't make a call. I actually have to put the phone down to get my signal back. I have 3 bars when the phone is in its stand. Turning off the WiFi did not make any difference. Just for kicks I held the phone with my wallet (sort of like a clam shell) and I did not have the problem. I did not have this issue with my original iphone using it in the same room of my home.
Just got my iphone 4 today (Wed) and I also have no signal after picking up the phone in my left hand, with palm touching corner. My calls get dropped or I can't make a call. I actually have to put the phone down to get my signal back. I have 3 bars when the phone is in its stand. Turning off the WiFi did not make any difference. Just for kicks I held the phone with my wallet (sort of like a clam shell) and I did not have the problem. I did not have this issue with my original iphone using it in the same room of my home.