You know, when the new iPhone 4 was shown to the world, The Steve raved about how the sleek design was achieved by totally making the antennas part of frame. I scratched my head and said to myself, wow, if this works it'll be quite an achievement. Antennas don't like touching. Especially not near the ends where the electric field builds up.
Now, looks like I was too pessimistic about the matter. Of course the antennas do work. You just need to always hold the phone in your right hand. And be cautious where the pinky finger goes. No, NOT right there.
The response of Apple to this matter is just hilarious, as Engadget notes.