Now, I'm not one to blog about the newest tech news or anything, but Apple has released iOS 4.0.1 which as they say, "improves the formula used to calculate the appropriate bars for signal strength". Available in iTunes and here. I've always had a cheap plastic case on mine, so I never noticed any reception loss greatly. Although if I do hold it in my left hand for an extended period, I saw 5 bars go to 1 bar.
Firmware 4.0.1 is jailbreakable with the 3G so far, so 3GS and 4 users are out of luck. If the only entry in the change log is the "improved formula", I don't see the need to update personally. Sure, it may say I have 1 bar, but hey, as long as it works.
Cycoder still doesn't work in 4.0. I finally found a working version of biteSMS, 4.93. I had to run redsn0w again last week or so because 3G didn't work. Working fine now, but it was strange that it didn't work at all. Still some themes don't work. Infinidock and Lockinfo don't seem to be compatible either. I do experience random reboots and lockups, but whatever.