When I first started hearing of the reception issues I just thought to myself it's just hype from all the Apple haters out there, but it is going to be a serious problem for me I think. I've made a couple of calls from my office today, all of which had breaks up but no drop outs. I can't remember ever having connection issues from this seat with the 3G in the past.
You mean when touching the spot or when not touching the spot ?
If not touching the spot then you almost certainly have an issue not connected with the touch-the-spot reception issue. There are quite a few people on the O2 forum with general reception issues that seem to get resolved by a replacement SIM or phone (usually the SIM it appears).
Everything I've seen confirms to me that the iPhone 4 has much better reception than the 3G normally when not touching the spot, particularly in dodgy signal areas.