I've been having the same problem. It started nearly a couple of months ago, in November. I first discovered it when I tried to make a phone call to my brother, and he could not hear me even though his voice was loud and clear through my phone.
My phone is an iPhone 4, bought by pre-order in June 2010. It is a week 23, factory 88 (ie, serial: 88023XXXXNX).
I've taken my phone to the Genius bar twice this week. The first Genius took it to the back and cleaned it out, then demonstrated that the mic was working a bit better. We did a test call to her iPhone, and, of course, as fate would have it, she could hear me on her phone. I didn't think this was a mic problem, but she said if there are still problems in the next couple of days, bring it back and they can do an OOW exchange for $149.00. In the past couple of days, three calls out of six resulted in the the same problem.
The second Genius was even less helpful, ignoring the print-outs of the discussion from the Apple Support community that I had printed out to describe my problem. He only suggested an OOW exchange or use my upgrade, which I was hopefully saving for the next iPhone this year (he also said he could do a DFU restore, but I decided to just leave - I was very polite through both of my sessions at the Genius Bar!).
I just hope they could figure something out. I can't even really use my phone for the main function that it's supposed to do without a hit or miss of having the problem in my call! (it would make a lovely iPod Touch replacement when I get a new phone though).
-C