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At first blush it sounds like a hardware problem, but just in case you might try these things.
1) Any apps updated just before the problem started? If so, try deleting the app(s) to see if the problem goes away.
2) Reboot the phone.
3) Do a live battery pull (remove the battery while the phone is turned on).
4) The ever-popular factory reset.
). Once you can prove to them that didn't fix the problem they should send out a replacement phone.I believe that would be the next step. You'll have to call in to their helpdesk, and they'll most likely have you do another factory reset (*I* think they're paid a bonus on how many factory resets they can have people do in one day). Once you can prove to them that didn't fix the problem they should send out a replacement phone.
BTW, I'm under the impression that this phone is not rooted, but if it is you'll need to unroot before sending it back - and it would be best to do it before calling them, in case they ask you about build numbers or something like that.
Are you running KaosFroyo? That rom has an issue with the microphone/headset stuff right now.`