some thoughts
First of all, this isn't a fair comparison in the least. There are so many variables in this process it's impossible to draw any conclusions.
1) Disregarding the iMac workaround for a second, as others mentioned, the actual throughput and latency of a 3G UMTS/HSPA connection depends on a huge number of factors, including cell-tower total bandwidth available, user saturation, distance from tower, tower transmit power, obstructions, etc.
2) 3G PCMCIA/expresscard laptop cards most always see a higher throughput than 3G cellphones, all else being the same. I'm not sure if the cause of this has to do with the 3G chipset used, the processing power of the host CPU, the total output power of the radio, or what else. So using a HSDPA iMac card isn't real fair.
3) the round-about mechanism of HSDPA express card-> PCIe bus -> software driver -> iMac-> software driver -> IMac Wifi radio -> iPhone WiFi radio -> software driver -> Safari has many places that could be possible bottlenecks for throughput, and even more importantly many places for added latency.
On a related note, one thing for everyone to remember is that 3G technology, including HSDPA (fast download) and HSUPA (fast upload), does not only improve average throughput by 3-10X, but just as importantly it *GREATLY* improves latency of the TCP/IP connection. So (without HTTP pipelining) when you load an average webpage on the iPhone (just like on a computer), mobile safari has to issue an individual HTTP request for every single element on the page including javascript files, CSS files, images, icons, etc and in SEQUENTIAL ORDER, waiting for each chunk of data to return before issuing the new request.
The result of this process is that data throughput is NOT the only factor affecting the loading of webpages. The latency on both the uplink (from phone to web server) and downlink (web server to phone) side of the connection can have a profound impact on how long a page takes to load. EDGE not only has a much slower data rate than HSDPA, but it also has a much higher latency. I believe it's in the 500-900ms range, and HSDPA improves this to 100-200ms. Conversely, HSUPA has the same affect on the uplink side of the connection. So although latency will not really improve raw file transfer times, it will have a significant effect on web page loading times. (NOTE that I specifically referred to HSDPA/HSUPA when talking about improved connection latency over EDGE. I did not mentioned the base 3G technology UMTS --- apparently UMTS by itself doesn't improve latency that much over EDGE)