N1 does have reception problems... and even on the google forums a google rep said pretty much the same thing (hold it a different way). But the issue was more about crappy 3G performance, not 5 bars to no service.
oh btw, the google rep said that google determined the poor reception problem was a hardware issue and they would no longer investigate because they considered the issue solved.
1. It is not nearly, and I mean no where neaaar as prevalent as the iPhone4 issue. It's also mostly a software issue as rooted phones with other ROMs report full strength 3G.
2. It only loses a few bars and slows the download speed, it doesn't flat out lose a signal just by holding it or drop calls when holding it. Unless the signal is very weak to begin with.
The Nexus One's issues are almost entirely software and T-Mobile US related.
I went back to the local T-Mobile store (Germany) with a friend of mine to show him the iPhone4 issue. I had my new HTC Desire with me and he has a Nexus One. Standing in the exact same location, with the exact same hand position on the phone, my HTC Desire had full strength 3G, my mate's Nexus One had 3 bars of 3G and the iPhone 4 lost all signal completely and stood there in "searching" mode. I set the iPhone back down and voila, full 3G signal again.
To even attempt to compare the Nexus One issues with the iPhone4's issues is laughable. That isn't a swipe at you, just for people who seem to be making those types of arguments.