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Ok, I know this is not going to be what you wanted to hear, but the truth none the less, so its what I can give you.
You will need to reset it, as it seems that the radio is corrupt. Since the radio is at a system level, you do not have access to go in and clear it out yourself and only with a reset can you do that.
However, a reset isn't as bad as it seems. As long as you have a Google account synced to your device your contacts, calendar, etc., will be re-synced to the device after you run the initial setup again as long as you sign in with the same Google/Gmail account. Any apps you have paid for, you can get back after you reset the device by opening the Market, pressing Menu on the phone and choosing "My Apps".As far as any data that is stored on the SD Card(images, music, etc.), it will not be erased. Only the phones internal memory is formatted.
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Here is another variation for you to try: http://www.youtube.com/watch?v=ksDiaKE6umk
If you have done a complete reset through the Recovery menu and the problem persists then it is not software/OS related. If this is the case then the radio on the device has become corrupt or defective and will not enable itself to be turned on. There is nothing we can do unfortunately, if its hardware and I can promise that if you did the reset and its not working then it is hardware failure.
I sure wish there was a way to fix that with a software update! Thats what the reset does though, it resets the firmware, including the software radio file. Since we can rule out software as the culprit, then an OS update wouldn't fix it.
My only suggestion is you contact where you purchased it as soon as possible and request an exchange based on hardware failure and you should be able to get one for free or at a minimum for less than it would cost to send it off to Samsung.