Is the iPhone 4's antenna problem really that big of a deal?

There’s been a lot of buzz about the antenna problem in the new iPhone 4, how it loses reception when you hold the phone and there’s even been lawsuits over it.

Does anyone here have an iPhone 4 and can speak from experience? I’m strongly considering selling my current iPhone and getting a white iPhone 4 when it becomes available, but I don’t want to if this antenna thing is really going to be an annoyance.