It's a software issue in terms of Apple screwed up from day one on their algorithum. They will apply a more accurate one. I for one want a signal meter that has some basis in reality and now showing me 5 bars when I have 1. I need a real signal meter, NOT a BS meter.
Now as to the ridiculous nature of class action lawsuits, first the only parties who make any money are the lawyers, Apple's and the Class Action Attorney's who take the case on contingency.
If people are truly outraged, incensed about this and feel they were cheated or lied to (same people who would run down an old lady for an iPhone4) then contact your State Attorney General and the FTC. Put some real heat on Apple where it may actually do somehing.
I purchased an iPhone knowing this is the issue, if it happens to me I will figure out how to work within it. The only thing you could get Jobs on is the magical BS part he spouted on about regarding the antenna. Certainly Nokia thinks so.
Love my Apple gear, I just don't trust Job's and why shoud I.
Then they should just return them and shut up lol... is my take... just my .02 worth