I have to reboot my phone about every two days to fix this problem.
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Not that I believe it's a valid solution to the real problem, but you can probably achieve the same result by turning on airplane mode, then turning it back off and that will bring your connection back.
Following. I've had my phone for five days and today it kept losing data. It would show 3G in white with two bars, which means my signal sucks and it wouldn't do anything data related.
I turned it off/on and now I have blue 3G with all bars and all my data is synchronizing again. I can't believe such a major issue exists on a $300 device.