Apple has a PR nightmare at the very least and a full blown product FAIL at the worst. Most iPhone reviews before the product launch were positive and did not talk about any reception issue. But now actual users are posting their opinions on Youtube and it is definitely reproducible.
The iPhone exhibits signal loss and may drop calls when a particular area at the bottom left side is touched. So for left handed people (like me) the iPhone is not recommended because you naturally use the left hand.
Consumer Report also did not recommend the product because of the design flaw. However a quick fix is now available for $30. A cover that fits along the sides of the iPhone can be purchased to prevent the sensitive part from being touched.