Yes, SOFTWARE FIX can help: The areas with low signal is the main problem. In the areas with very strong signal, I could not even kill one bar. I think I was causing some attenuation, but because the signal was so strong it did not budge. However, when in the area of low signal, it is possible to send the phone searching for signal and hence drop the call. This tells me that Apple is right about the need to have a software fix. The Consumer Report did a controlled experiment, but they did not share how large the drop in signal was.
None of you know how the antenna signals are programmed to work with IP4 hardware and software. Here is the scenario - you hold the phone at the lower-left corner and create significant attenuation - The only way you observe that is by seeing signal bars dropping. Presently, I suspect the OS does not smooth this attenuation, sending the phone searching for some less troubled frequency. In the process you may loose your call or slow down the data speed - both are on the same antenna (I presume). Now with an appropriate software fix, this attenuation can be processed such that phone does not react to it in such a dramatic fashion - result - call continues, data flows - nothing is lost, just few bars
So unless after Apple release the promised patch and it will fail to partially solve the issue (I agree with Apple that every phone has some attenuation) I suggest staying away from mass hysteria. People who return the phones are just dumb, IMO, just look at Consumer Report - it the BEST smart-phone around in every category.