I agree. This is idiotic. Take it back or wait for Apple to fix it and they will fix it.
Edit2: here it is: http://buzz.amaltas.org/story/anandtech-iphone4-gets-better-...
I'm thinking of just buying bumpers preemptively, since they will also solve the vital "which of these otherwise identical iPhones is my wife's phone and which is mine?" problem.