I've had a great experience with the iPhone 4 so far.
I had a great launch day because I pre-ordered and got it fast. Pre-order line was 20 min and then a 30 min pick-up on launch day. No hour waiting. Phone was 100% perfect. Then I enjoyed the grand opening of an Apple Store in Cerritos, got free Smart Water, free shirt, and didn't have to wait in that long line to get a bumper. Then I get a refund for that same bumper and also got an even better case called the Speck PixelSkin HD for FREE.
There have been a few hang-ups and crashes. Also, I worried about the battery life getting shorter only to realize I forgot to turn off location services and clean apps in the multi-task bar. Other than that, it has been the best phone so far and I'm loving this new free case which was delivered to me about two weeks earlier than expected.
For the many negative press this phone gets, there are just as many "cool story, bro" experiences just like mines. FAST, EFFICIENT, and I got FREE stuff along the way. Only reading sites like this is what gets new buyers more paranoid than they should be. Lower the OCD and expectations a bit.