No.
I am currently not considering getting an iPhone 4 at this point. I have two decent phones [sig], which have a great HSPDA signal where ever I usually go.
Coverage is important; I never had a problem with O2 in any of the areas that I frequent, so I don't see what the problem is.
I think a bigger problem with this phone is that this expensive phone loses signal no matter what network you're on, if you hold it in your left hand!
I was replying to you because I found your "it's on the O2 network" as a catch comment, rather unhelpful and pointless. What do you mean? O2 have data trouble? O2 have coverage trouble? Both were fine when I was with them.
I've had no problem making calls holding the phone in either hand. So I can't see why everyone is moaning.
I'm also on O2 and the coverage around these parts is fairly patchy...
As you can see, everything has a flip side...