So you bought an iPhone 4 and all is well until you give it the death grip and try to make a phone call.  Engadget gets a response from Apple stating:

"Gripping any mobile phone will result in some attenuation of its antenna performance, with certain places being worse than others depending on the placement of the antennas. This is a fact of life for every wireless phone. If you ever experience this on your iPhone 4, avoid gripping it in the lower left corner in a way that covers both sides of the black strip in the metal band, or simply use one of many available cases."

Well now that you know a simple software update isn't going to fix the problem you have one of two choices.  You either "...avoid gripping it in the lower left corner" (the death grip) or buy a iPhone bumper from Apple for about $30.  Even though you and everyone who owns an iPhone 4 probably feels you should be getting a free bumper from Apple.  TZ is going to help you guys out and let you know how you can save yourself $15.

IvySkin has used this iPhone 4 issue and used it as a tool to lunch their brand new officially named 'iPhone 4 Reception Case'.  Marketed as the thinnest iPhone 4 case in the world measuring in at 0.6mm thin.  They have also utilized a revolutionary Polycarbonate material; which is 0.8mm on the sides to clear contact with iPhone 4's new antenna system.

The Reception case will begin shipping next week but you can order them now through the IvySkin Website.