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Honestly, you can't compare the two. They both do somewhat similar things, but go about them in very different ways. I like the Droid and the iPhone, it's really up to personal preference.
appleinsider has a 3-part series comparing Apple's strategy with iPhone OS and Google's Android OS (which drives the moto Droid). Reading those three, it's convinced me that Android is likely going to have a niche future, one substantially limited by its and Google's inherent disincentives to make the ecosystem into something more like the iPhone.