I can't see a recall, I've tried holding it 'the wrong way' with mine, and the signal does drop, but no more than on my LG if I hold it the same way. All 'candybar' phones seem to have this issue to some extent, it is just getting lots more press because it is apple, and probably in part to their bar display being incorrect. A $5 case improves the issue for all phones, apple included.
I wouldn't be surprised to see a revision of the hardware though to minimise it or move the join to the bottom or somewhere less likely. Most people don't hold their phone the wrong way unless going hands free or video chatting.