This is my biggest gripe with my iphone (and other fully touchscreen phones/devices). I have to hold it by its four thinnest edges on the sides.

Re-aligning the phone in my hand usually requires use of the other hand since it is hard to "crawl" my fingers around the edges. At least with my previous Treo or blackberry I could rest my thumb or finger across the keyboard to "grip" the phone when picking it up or moving it.

It's funny how the front touch-screen, when on, renders the entire back almost untouchable as well.