I do not agree with your point that it may be hardware. Symptoms we are seeing are too random to consider it as hardware issue. Also, as you can see almost 40% of the entire users just on this forum do not experience any issue at all. Considering that people on the forum are more active and vocal than general public, I would say more than half of GN users probably would not be experiencing the issue at this moment. If the problem is going to be anything about hardware, it should be more reproducible, by anyone, at anytime.
Provided that my prior assumption that the ongoing issue is the hand-off /authentication issue is correct, it is more likely to be related to the software.
All I will say is this:
Historically for me...Samsung hasnt had as good as reception as some other phones in weak reception areas. Thats with 2 Samsung phones (one a regular cellphone, 1 smartphone) and 3 phones from another manufacture. (one regular cell, 2 smartphones.) That is enough to say to me that its a real possibility that it could be hardware.
A pic I posted at another site:

I have a RAZR. That is in my apt...which gets virtually no data signal, 3G or 4G. I HAVE to use Wifi to use anything network related. But look at how strong the phone signal is. Cell Standby is small too, didnt post a screen of it tho. My phone reception is stronger in my apt than data. Places at work and in my apt where I get weak to no data service, I can still make and receive calls. Sometimes good, sometimes sketchy. Thats why I do not agree with the G Nex showing accurate LTE readings and some ppl thinking thats fine. I use my phone as a phone first, so I want my phone to show me the phone reception....not data reception.