One report[1] even claimed an iOS update as early as Monday might be able to relieve the issue due to a lag in the iPhone 4's ability to switch between frequencies causing the loss in signal.
(Even as most reports seem to indicate a complete disruption of service, rather than a simple “lag”.)
[1] http://www.appleinsider.com/articles/10/06/25/death_grip_hys... (To be a taken with a grain of salt, as should anything at AppleInsider that is uncorroborated.)