I've been thinking of an accurate way to describe this. Essentially, the iPhone feels like an android device with training wheels. Yes, the UI is pretty, transitions are smooth, it's fairly stable, but you're stuck using Apples crapware to sync/transfer data, irreplaceable battery, non-upgradable storage
Android feels more like a tech's phone, it feels like it resonates more with Amigans; Yes it lags a little occasionally, carriers like to add their bloatware **** onto it, but overall you've got more freedom and flexibility to do whatever the hell you like. Manufacturers are even unlocking the bootloader to give the user freedom to flash their own ROM.
Also, as soon as you plug your android device in, you're prompted with "What would you like to do via USB?" - Options include using the phone as a mass-storage device, running HTC sync, tethering (use your phone as a GSM modem) or even reverse tethering (using the PC's internet connection on your phone). No restriction to use iTunes or other crud
In short, neither is perfect. I've never been a fan of Apple (and especially their holier-than-thou fanclub), but they've built a solid mobile OS.
I love android, and own several android devices (HTC Nexus One, HTC Desire HD, ACER Aspire A500 tablet), but I still don't think they're ready to go head-to-head with apple in the 'numbnuts with phones' realm.
Edit: Duce is unfortunately right, Androids Honeycomb OS looks and feels fantastic (I've been using it for a couple of months now), but it still needs a couple of revisions before it's ready to properly compete
