It looks like Apple did what many including myself expected. They are giving away free bumpers and third party cases to all who purchase an iPhone 4 prior to September. If you already bought a bumper, Apple will refund that money starting this coming week.
If you had already purchased an iPhone and are unhappy with it you can simply return it for a refund within 30 days of purchase with no restocking fee.
I personally have not had any issue other than the proximity sensor issue that seems to be common. Apple has said this will be fixing this issue with a future software update.
I gave my thoughts yesterday on what I predicted Apple would do. Check out the video below: