The iPhone 4 launched to a rapturous audience throughout the world this week with 75% of purchases coming as a result of an upgrade.But early indications show a fault with the iPhone reception and it’s not a far distant cry from the wireless issues that haunted the release of the iPad. Is it better to wait for 2nd generation releases or software updates that fix these issues?Personally, I’m waiting for the White iPhone 4 and that is the only thing that stopped me queuing up with the rest of the Apple fanatics on the first day of release. But now, I might wait for these issues to be addressed. The iPhone 4 reception issue is surely a hardware fault and nothing that a software patch can fix so I’m currently sitting pretty with my (old) 3GS. Although rumours are abound that a software fix will be issued in days.Another issue that affects us here in the UK is the end of unlimited data plans. If I want to upgrade to the latest iPhone, not only do I have to pay off the rest of my contract (albeit at a discounted rate), I have to buy the phone as well, start a new contract and then forfeit my unlimited data. I thought that opening the iPhone up to competition would make the contracts more cost effective.