That said, it seems that the S3 is opting to stay on 3G in weak 4G areas far more often than any recent LTE phones that I've had, including the Nexus. I live on the edge of a 4G area, so 4G comes and goes from time to time. With the MAXX and the Rezound, I'd maintain a 4G connection about 70% of the time while in the house. With the Nexus, when it could hold a signal, I'd be on 4G around 50% percent of the time while in the house. With the S3, I've only been on 4G twice while at home, and both of those times I was on the far edge of the property away from the house. I've yet to grab a 4G signal while in the house. Out of curiosity, I forced the S3 into LTE only mode while in the house. It grabbed a hold of a LTE signal with the reception clocking in at -109dbm. The MAXX would pull LTE around -95dbm while in the house, and the Rezound would be a little weaker than that. The S3 connects to LTE just fine in areas with moderate to strong signal, but it seems like it's sticking with 3G in areas of weak 4G. At least it's holding a steady signal though, unlike the Galaxy Nexus which couldn't hold 4G, 3G, or 1X.
Since I've only had the S3 for a little less than two days, I haven't used it enough to pass full judgment on it yet. However, on reception, it definitely fares worse for me than the MAXX (and all other Motorola smartphones I've had) and the Rezound. But so far, it does have the best reception of any Samsung Android phones I've had on Verizon. So, if you've been happy with the reception of Samsung smartphones in the past, you'll be happy with the S3. If you've been disappointed by the reception of Samsung smartphones in the past, you'll see an improvement with the S3. If you live in an area with strong cellular coverage, you should be good with reception on the S3. But if stellar reception is of the utmost importance to you, particularly if you live in a weak coverage area or are buried deep within a building, you might want to look at the S3 with a cautious eye, especially if it's going to be a device you plan on keeping for two years.
As for me, I still need a few more days with the phone to decide if I'm going to keep it for a bit or if I'm going to go back to the MAXX. The reception is definitely a strike against the S3. It's not a huge strike against it like with the Galaxy Nexus (all four of which I had were practically unusable half the time), but it's certainly a weak spot.