Why does one always have to be better than the other? Why not equal and both great? I moved to iphone and thought it was the best thing i'd ever used, simply cause I was jailbroken and I could make it work the way I like it. Out of the box, it SUCKS! or sucked (have not used ios4) I started messing with Android and noticed the freedom. I have not even rooted this thing and I can get widgets and things that make the experience exciting. The social interaction, screen qual, cam, processor speed among other things makes the Android a better choice, if you like those things. If you just want a solid device that does basic stuff, iPhone is great choice. I can manipulate every aspect of this phone and it's not even rooted. As for apps, the Market has every app I used in appstore. Regardless of how many devices come out every month, each of them are on par if not ahead of the iPhone. I'm not afraid to say the iphone has some features that are better.
Along with what Ryan posted, if list form is what you want.