See my post above this one (588).also find it interesting that from what ive read its always either the iphone 3g or the iphone 4 having this issue with ios4, not the 3gs, interesting, either way tomorrow its gonna get a whole lot worse
I can duplicate the same symptoms on my 3GS,
5 bars down to 1 (whether I hold the phone in my left or right hand).
That said, I haven't noticed an issue with more dropped calls than normal (though now that I think about it, I did lose a call this afternoon at work 5 minutes in to the conversation which was unusual).