Ok i thought i would join in because ive been having this problem for over 3 weeks, and it has now basicaly rendered my phone completely useless.
Same issue like everyone else, get signal for a few days, then constant searching... no signal problems. Where a restart would only help the problem for a short time. Then after 3 days only a restore through itunes would help for a bit. Now doing a resore or anything doesnt help. Now seeing that apple was working on a update gave me new hope that they were actualy listening. Well i just did the update and i did absoluetly nothing to eleviate the problem. I am really getting ****** off at apple. To me, or any sane person, fixing a signal problem sounds much more important then solving a battery life issue, one leaves the phone completely un useable, where the other you can still use the phone. Plus i love how apple pervents you from going back to a older version of firmware that worked "perfectly fine". I had a feeling that i was going to have a problem with the iOS5, i should of never upgraded my phone, the only reason i did was to try out the iMessage feature.
My friends find it amusing when they have 5 bars on their iphone, and mine says "No Service."
Now im really starting to get ticked off because my warranty is going to be out in about 3 weeks, and if i keep on waiting on apple to potentialy release a fix, i could be left with a fancy looking paper weight!😠
I guess i have to drive 3 hours to the closest apple store to get them to replace my phone, after a bunch of arguing i predict.