While still not admitting there is anything wrong with the phone's design, Jobs did admit that iPhone users on AT&T have experienced slightly more dropped calls with the new model compared to the previous one.
The increase isn't anywhere near what you might expect given the amount of coverage this issue has received. However, it does seem to contradict Apple's claims that, "the iPhone 4’s wireless performance is the best we have ever shipped."
Regardless, the most important thing for Apple is their decision to address the problem in a meaningful way.
Many people were calling for, or even predicting, a recall of the phone and no doubt some will complain loudly that providing cases isn't enough. But considering the high cost of a recall compared to simply giving away cases, that would probably be as irresponsible as doing nothing.
Providing free cases seems to strike a reasonable balance. It should be effective enough, available as soon as possible, but still have the smallest impact on Apple's bottom line.
So far specifics on getting cases in the hands of existing iPhone 4 owners or reimbursing them for cases they've already paid for are a little vague but there will be more information, as well as an application to receive a free case (or bumper), next week.