Mine did this on Friday 9/17. 4G would indicate failed in the settings. When I checked the box it would do the scan, connect, turning off cycle and repeat. I did two hard resets and battery pulls to no avail. I took it into a Sprint store after work and they did a couple of hard resets (I guess they have trust issues? ;-P ) and they couldn't get the 4G to come back on. They ordered me a "refurb" and said it would be in on Tuesday.
So I take my poor, little gimped EVO home for the weekend to nurse it until it was put out of its misery on Tuesday. I felt my wifi would be good enough for the weekend. Turns out the wifi wouldn't turn on either! So I was really dead in the water. Fortunately, the new phone came in early and I picked it up on Monday.
I got it all set up after a few false starts and hard resets. Got it like I like it. Then the OTA update hit. Updated uneventfully. Then, while I was USB tethering on 4G this morning, it did a self restart. I also noticed that when I tethered before this, earlier this morning, Sense seemed to shut down and restart without actually disconnecting. Anyway after the phone completely restarted itself, I disconnected from the pc and did a battery pull because the cycle started and 4G wouldn't come on!
I was seconds away from making an appointment at the Sprint store when the phone recovered from the battery pull with 4G on (it said Failed before I pulled the battery). Now everything seems to be "fine" but I am concerned about the inconsistent behavior. Tethering and 4G seemed to be more stable before the most recent OTA. Now it seems like you have to be more mindful of how fast and in what order you toggle certain radios on and off. I tether via USB everyday so I hope this irons itself out or they fix the update.