AppleCare has confirmed what we already knew: The incoming software update won't fix the iPhone 4's transmission and reception problems. They acknowledged the antenna problem exists, offering the same solution as before: Buy a case or hold the iPhone differently.
I was secretly hoping that the software update would magically fix the iPhone 4's antenna design problem, because I really wanted to buy what otherwise is an great gadget. Unfortunately, the cosmetic change to the bar display—which promises to show the actual signal strength—will not fix the transmission/reception problem that countless iPhone 4 users are experiencing. AppleCare's response
We called AppleCare three times today to confirm it. We told them that we were experiencing voice quality problems and call drops, as well as problems with internet access. Their response was immediate and unequivocal, the same in the three cases:
• There is an antenna interference problem when you hold the iPhone 4 in a certain way (the tests by Anandtech and many demonstration videos in the internet show that the signal drop will happen every time when you touch the phone's dead spot, on the left bottom corner).
• One solution is to hold the phone differently, avoiding to touch the left bottom corner of the phone (coincidentally, this is how models hold the iPhone 4 in most of Apple's promotional material).