For all who are still facing problems, my brief history with the iPhone 4S (from India).
I bought a factory-unlocked phone from the Canada Apple Online store (NOT the retail store). I activated the phone for the first time in India using an India SIM (not a Canada SIM). In my case, iTunes never said 'Congratulations, you have an unlocked phone' or anything like that. I understand you get this message if your phone is a 'Contract-Free' or 'SIM-Free' phone. I believe these are what you can buy from the retail stores directly. So, maybe for these 'Contract-Free' or 'SIM-Free' phones, you may need to activate it first in the host country, though I frankly don't see why and certainly no other phone company seems to be handcuffing their customers like this.
When I first activated the phone, (Nov 1), I got the now famous 'No Service'. I tried several SIM cards, cut/micro-SIM, Airtel/Vodafone, etc. All to no avail. BTW, I'm in the Delhi circle. Several calls to Airtel and Apple were completely unhelpful, until I found I was not alone (i.e., this forum).
On Nov 5th, I got a hold of senior folks at Airtel who told me that this is the first time they're hearing of this. The phone they were given from Apple for testing was working fine (ahead of the launch). We compared specs of the phone (serial numbers, IMEI numbers). Then we started collating serial numbers on this forum of working and not-working phones, looking for a pattern. Someone the forum pointed out the IMEI pattern (i.e,. those starting with 0130 were not working, while the older 012 series was working).
Airtel told me they were in touch with Apple and that Apple had not updated an entire series of IMEI numbers before shipping them. In India, given our higher security on mobile telecom networks, apparently phones are only 'authorised' if they are registered on the GSMA site. Several people on the forum checked their IMEI's and they were not updated.
On Nov 9th, on a trip to London, my phone worked absolutely fine with a local SIM there.
By Nov 11th, when I had returned, my phone was working in New Delhi and several others across India on Airtel, Vodafone, BSNL, Aircel, etc. were starting to work.
Airtel told me they were doing an 'off-cycle' update, now that Apple had updated the GSMA site. But, the off-cycle update was being done circle-by-circle. I assume other carriers were doing the same. As we identified circles that were not working (bangalore, punjab, etc.), Airtel tracked these and are addressing them. Again, I assume the other carriers are doing the same.
If you're still getting 'No Service' with your carrier, ask them to do an off-cycle update, explaining that the GSMA website was only updated recently. I know several people on the forum are skeptical that this is indeed the answer, and frankly I do not know myself, but it seems to have worked for a large number of people.
By the way, I've updated to iPhone 5.0.1, and just recently the iTunes 10.5.1.
Call Failed. When my phone was first working in India, I could receive calls and send/receive messages, but could not make any calls. I kept getting the 'Call Failed' message. So I reset the phone back to factory settings and set it up as a new phone and it worked well. Then I restored the most recent back up and it crapped out again - i.e., again 'Call Failed'. So I backed it up from an older backup (Nov 7th or so), and it worked perfectly. And has been perfectly since.
When the iPhone 4S launches in India, maybe we're all hoping these problems will be fixed. Maybe Apple globally will track the status of the carriers and be proactive in making sure their products work - as opposed to being reactive. Maybe.
There seems to be a lot of issues getting fixed, with no explanation of what was wrong in the first place. It's been frustrating, and continues to be so. Frankly, I'm still nervous when I travel - and end up carrying a second phone just in case. If the 4S weren't such an incredible product, I'd have dumped it.
I hope this is helpful to all of you still facing problems.