Sadly, it's far too true... (although I haven't yet personally experienced the issue with not being able to accept a call)
Kudos to "adamburtle" for putting the video together.
P.S. I learned of this video through the ZDNet article, Apple should advise against upgrading iPhone 3G to iOS4... and yes, Apple should make it clear that you will severely degrade the performance of your iPhone 3G by "upgrading" it.
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