I previously posted about turning on the analytics as a potential solution, asking others since someone before me suggested it -- did it work? It seemed to help, but my test period was only a couple days -- days where my use was light. I did convince myself that I witnessed a couple glitches, but no freeze requiring locking/unlocking or restart.
arrizaba posted a set of instructions about a DFU restore. I did a search and found the same instructions on a Apple friendly website. I followed them by first doing a full iPhone backup on iTunes on my computer. The restore involves downloading an over 2 GB file then re-downloading all your apps. The website post warns that if your phone has damage of some type, the DFU restore method will take your phone from glitchy to unusable. On the hypothesis that the recent ios update is the cause, then nearly all of us do not have a damaged phone.
Several have mentioned the os update includes a file system change. If that is true, then the restore idea makes sense. I'm not expert on how Apple does it, but in the many years I repeatedly wiped my Winders system hard drive and reinstalled Winders, I learned it restores all the operating system files and puts them in the right places.
So maybe the restore does the same on the iPhone. Again, if true, it suggests the update method caused the problem, not the 10.3.1 update itself.
Two days so far, I've not noticed a single glitch.