When I got the Thunderbolt on the release date I was lucky enough to get a phone that was functioning perfectly. I didn't have any connection or reboot errors that were being reported from launch. Then came the first update a few months ago...suddenly my phone starts to reboot itself 3+ times a day and dropping phone calls randomly. Verizon kept telling me to wait it out there's an update coming that will fix the reboot issues and all will be right with the world. Well I got the update last week and while my phone hasn't rebooted on its own, my phone no longer holds the network. The new update added a toggle so that I can choose to use the 4g network or just 3g and while it holds the 4g network nice and strong, when I set it to only 3g (because I prefer my phone to make it through the day without having to charge every 20 minutes) it drops the network every few minutes and takes sometimes up to a half hour of reboots and toggling to get it to reconnect...only to disconnect again a few minutes later. So far verizon is 0 for 2 with updates. They seem to cause more problems than they fix.
I just did the most recent OTA (1.70.605.0) yesterday, and my TBolt no longer reboots half a dozen times a day. It hasn't rebooted at all since I did the update yesterday.
I do not see a positive outcome when a user install a firmware update / bugfix over a already configured device, the update has to update a large amount of files and if a app makes it not possible to access a required file this can make a good update go way bad, try a hard rest and see if this resolves your issue.