The OS update 4.1 is out.
It fixes the signal strength bar issue!
Now, if the cell signal is sh!tty the iPhone will say just that!
No attempts to convince you get something for nothing. Must be a first!
But reportedly it doesn't fix the reception issue
Initial Reports: Software Update Doesn't Fix iPhone 4 Antenna Problem, As Expected
So, physics still trumps magic! Who would have thought...
Diogen.
EDIT: As a compensation for fewer bars, the bars a bigger!
iOS 4.1 seeded to developers (updated) -- Engadget
As the article you quoted says, Apple never promised this would fix the actual reception issue. So I'm not sure what you expected. This is just to finally report the actual signal strength instead of lying about it.