I just got my Galaxy Nexus today and I have 1 3G bar. I ran a speedtest and I only get .3Mbps down. I was aware that there was some 4G reception issues but where I live 4G is spotty so on my Droid RAZR sometimes I would have 2 4G bars and other time I would just have full bars on 3G (between 75-80dB). With my RAZR on 3G I would get between 1 and 1.5Mbps down on Speedtest. 4G speed tests ranged from 6Mbps to 10.
When I got my Galaxy Nexus today I noticed I only had 1 bar of 3G service. I thought maybe it's wrong, so I went into "Status" under "About Phone" and I had -100dB signal. I haven't even seen a 4G signal on my Galaxy Nexus yet, the difference between signal strength on RAZR vs. the Nexus is night and day. The Nexus is a much cooler phone though.
Would a baseband update fix this? If so, is there any ETA on it?