In today's press conference, Apple made a point of reminding attendees that every smartphone has an issue when people touch the antenna. Apple says their fault was putting a bullseye on the very spot that you shouldn't touch. So I checked to see if Steve Jobs' claim was correct.
I Googled the following phrase and saw some interesting results: Nokia "Do not touch" antenna
Here's a quick link so you can see for yourself: http://tinyurl.com/25ubre9

Sure enough, there is merit to the argument. Going back to 2005, Nokia was warning users against touching the antenna. Here's a quote from a Nokia user guide.
Your device has an internal antenna.
Note: As with any other radio transmitting device, do not touch the antenna unnecessarily when the device is switched on. Contact with the antenna affects call quality and may cause the device to operate at a higher power level than otherwise needed. Avoiding contact with the antenna area when operating the device optimizes the antenna performance and the battery life.
Still, we can debate whether or not it was a good idea for Apple to put their weak link in the very spot most people hold their iPhones, including their spokesmodels in their commercials. And if Apple should have known about the issue before, instead of field testing using iPhones camouflaged in iPhone 3 cases, masking the problem.
In the end, Apple is owning up to the problem, if not the coverup or mistakes in their response, by offering free cases to users and reminding them of the no hassle return policy. Personally, I will keep my iPhone, and use it without a case most of the time, because it's just so darn sleek when it's not encased. I might take them up on the offer for a bumper or third party case when I want a little more protection. And when I don't have my iPhone in a case, I will remember Nokia's advice and 'do not touch' the antenna!
Cover up!
He just managed to cover up the issue, eventually like a school grade child does ;-)