Is this Steve Jobs?
@cmaier You have valid points. Obviously, the phone doesn't work for you and I'm sure that's disappointing. But honestly my original point stands: For you to keep the iPhone 4 and make it work for you, you have three choices.
1) Get a case.
2) Learn to hold it differently.
3) Accept the fact that it's going to drop some calls until the day that Apple decides to acknowledge and fix the problem -if that day ever comes.
Otherwise, your only option is to return the phone. If you have a problem with the phone and can demonstrate it to them, there is no way that Apple will charge you the restocking fee. Argue it and they will back down for you as they have for many others.
Your comment about not wanting to pay $700 for something then have to pay $30 more for something else to make it work reminds me of when my cousin bought his $3500 HD TV. He took it home and hooked it up to his satellite box and discovered he couldn't get HD. He was pissed when he found out that he had to shell out another $100 bucks for the HDMI cable.