my wife had our first iphone, the 3G. at the time it was the best smartphone. i got the 3GS when it came out and it was the best as well. awesome exchange server support, good GPU, good screen, battery, etc
few months ago i traded my 3GS for a HTC Inspire 4G.
on the plus side it cost me $20 compared to $300 for a 16GB iphone. i also have a nice Nav program with real time traffic, big screen and can play PS1 games on my phone.
on the downside the software is beta level compared to apple, the email sucks compared to iOS, some advertised features like DLNA don't work very easily, the GUI is annoying, the android market is crappola compared to the app store, the whole idea of installing to SD card sucks compared to iOS, the quality of the hardware sucks compared to apple products, the so called real multi tasking is a resource and battery killer, crapware pre-installed, the OEM apps never update so you have to install the same apps yourself from the android market
if apple releases a 4 or 4.3" iphone i'll probably drop android like an annoying girlfriend. the only thing android will do is let me install emulators but the way things are going everyone is looking to release old game in the app store anyway
you can debate paper specs all you want but my 512MB ipad 2 kills my 768MB RAM android phone in performance. except for RAM apple is almost always the best/fastest CPU and GPU and other hardware. and with iOS being optimized for the new hardware the performance is very good. unlike android where OEM's hype dual core but the software doesn't support it and is still slow
i mostly went android because i wasn't using the phone that much, an ipad 2 was planned for this year and i'm on a family plan so my phone is only $25 more per month. i just wanted a cheap phone that did 80% of what the iphone did. i know someone that is agonizing himself over which android phone to get. i keep telling him it doesn't matter that much since they are all pretty much the same