Nope, iOS 4.1 doesn't fix the iPhone 4's death grip antenna issue.

And now, to answer the question that’s on everyone’s mind: Does the just released iOS 4.1 update fix the iPhone 4′s death grip issue — or at least appear to?

No, no it does not. At least in our testing of iOS 4.1 in its current state (intended primarily for developers to use to ensure their apps don’t break), the phone appears to drop signal just as easily as it did on OS 4.0. We’ve got a video of a quick test going up on Youtube right this second — check back in about 3 minutes for that. see below for that.

Update: The video! It may take a moment for YouTube to finish processing, but here’s the embed so you can get at it the second its alive.