I always hear about crappy home buttons but have never - in any iPhone I've owned or my family members have owned (roughly 25-30 phones, not a large sample but still) - experienced any issue with a home button.
Do people push these things hard or something? I personally like the home button - makes it easier to pop the screen on and off when the phone is lying on a desk without having to reach on the side....that said, if they added some functionality I wouldn't be opposed to losing the physical button in favor a capacitive fingerprint reader.
my iPhone 4s has the home button not responsive. I had the 3gs with no such issue. so that's a 50% failure rate for me.