That is VERY encouraging OTD, it really is! I wasn't aware that the latest update screwed up the radio. If that's the case then there really is a great chance this can be fixed!
Just to give you an idea of the #s I was seeing. The Razr reported -45db, the Rezound as I recall -49db, the cheapo $99 4G phone (don't even recall which one that was) -55db, another was at -57db and the Nexus was at -79db.
The Razr was at the front of the store closest to the door & window, so it could have been receiving a somewhat better signal. But all the other phones were lined up right next to each other. It was really stunning to see. In fact I pulled out my Nexus and it reported exactly the same -79db as the display model.
BTW, what shocked you about 4.0.3? I'm in the dark on that.
But again, what you've said is the first I've heard of that and it's got me a lot more optimistic than I had been. Of course the issue will be what do we do if the fix is not released before the return period is over?