Just use the one V for a short period of time but did not encounter this problem.
We tested the phone for death-grip and we didn't find any problems - Wi-Fi signal drops if you completely cover the top plastic panel on the back, but the reception still remains quite strong. Cell signal didn't budge.
I also have this problem. My One V always drop 2 bar when I pick up the phone. While other mobile with the same network, the signal is full.
I contacted Call center once. He told me it's because of my network operator. I should try other operator but I don't want to change my number.
So, I still hope new firmware will solve this issue.