If your phone Volume button doesn't work, and the warranty is still good, then I would call it in for a new phone.
Hmmm...(Menu->Settings->Sound->Volume), but it really has no channel adjustment for in-call volume!
Well, there are scads of Marketplace apps, and most of them do give you this as a separate control channel, plus several others. There are many which will also set profiles for situations such as outdoors, home, work, and others, in ways less blunt than Airplane Mode. One of my personal favorites is Volume Ace, which can set my alarm tracks and ringtones as well as set profiles. Another is Volume Control, which has a pretty slick companion app (for the paid version, I think) called Volume Preset. I love this, as it is very customizable, and it presents the potential of a whole page of pre-set profiles at the push of only one button on my home screen!