So I decided to take my phone apart and clean the home button thoroughly, and I have to say that it's the same as before, maybe only slightly better. The actual area around the home button was fairly clean, and the plastic "button" itself only had dirt/grime around the edge of it, which I don't think necessarily caused any issues. What I DO think the problem is, is the fact that the home button design is crap.
You know how the home button moves very slightly (assuming it's clean, and not stuck against the edges of the glass by aforementioned dirt/grime)? That's because there's nothing holding it in place. There's two little plastic tabs that keep it from rotating, but even those don't fit flush with the housing. There's no glue or anything to keep it from moving. What this means, I realized, is that anything except a perfect press of the button in the dead center with enough pressure, won't register as a click. I know that all the iPhones' home buttons are designed the same crappy way, but from what I can tell, the other models are not nearly as finicky about how you press the button...maybe it's the size of the actual switch or the way the iP4's home button ribbon cable positioning keeps it from staying perfectly still, I don't know.
Anyway, maybe I'm wrong about this, and maybe I just suck at pressing the home button perfectly every time, but I was pretty surprised at how much the home button housing sucks compared to the flawless and amazingly well thought-out design of the rest of the phone.
By the way, the whole thing about vaccuming out dust through the 30-pin connector hole? I don't see how that can possibly clean out anything near the home button. The 30 pin hole isn't just an opening into the innards of the phone, it's closed off from any of the other internals, including the home button. I cleaned out a disgusting amount of dust from the 30-pin hole, but that had nothing to do with my home button. I really believe that it's just a crappy design and possibly defective home button assemblies that are to blame. The dust/dirt has little to do with it.