So I've been reading about a few vibration issues and here is mine.
When holding the phone correctly (in use look) and I switch to vibrate, it doesn't give me the solid vibration I'm used to. It vibrates, but seems like it's somewhat 'rattling' or rubbing something.
Oddly enough, when I turn the phone upside-down and switch to vibrate I get a nice solid vibrate.
I have a similar issue as the OP... the way that I "resolve" or stop it from rattling is to lightly tap the bottom of my iphone where the speaker is and usually it give me the normal hum when it's vibrating rather than the rattling... The vibration isn't as strong either and i'm wondering if i should bring it in to apple already