In my mind, the jury is still out on this issue. I can tell you, however, that I recently flew as SLF from Perth to Sydney on a QF A330. It wasn't until I was in the terminal at Sydney that I reached into my bag to turn my mobile on that I discovered it had been on the whole time!
The bag it was in was in the luggage bin above my head right throughout the flight. There were no untoward oscillations during the flight. There was no search for an electronic device. Nothing but a hassle free and mostly enjoyable flight.
The flight
DID arrive in Sydney a tad early... maybe it was my phone that made the aeroplane fly faster?
