While the antenna issue is the primary one that has received attention, there are several other issues that people like Jason have been experiencing. I doubt Apple will admit any fault of their own and you can pretty much count on there not being an iPhone 4 recall. Apple may give out bumpers to those who call a special number or contact an Apple store directly. I honestly don't know what Apple should do and never purchased one myself so I can't say what I personally would want them to say either. I know if my phone had easily repeatable signal issues I would have to look for another device to fill my smartphone needs.
What do you think Apple will do on Friday?