took my phone back this afternoon, explained the problem and they were more than helpful to cancel my contract but told me they didn;t have any phones in stock. I pushed it saying that I had reserved them in plenty of time and have not gone to the back of the que, he went to have a word with some people but still told me none in stock. Again, I pushed it asking how long would I likely be waiting, he finally confirmed that they had not received any iphones since launch and the reserve list was growing by the day. A few of the staff overheard the conversation and finally the manager brought out a new 32gb model from 'emergency stock'.
To be fair, I received excellent service today and am now a very happy bunny to have an iphone 4 with a decent signal.
The only thing is that the home button is a little loose, but I suppose it's within the tolerance so I can live with that.