Resetting Home Key on iPhone 4

So, the home key on my iPhone was becoming really unresponsive, like pretty much broken. Of course the phone is out of warranty.


BUT never fear - I found this at the Apple community:

Reset Home Button Steps:

(1) Tap Settings App, when open:

(2) Hold Power button until "slide to power off" bar appears.
(3) Don't slide it, release power button.
(4) Gently, continuously press Home button for few seconds until home screen appears.
(5) Done.

If this does not help, further points to Hardware Problem.