In the end, it comes down to the difference between what they say the phone can do, and what it can actually pull off.
All the stuff I read about the Droid X was great, it made my iPhone 3G look like absolute garbage, but it was with 5 months of use that I learned that Motorola does not know how to write for Android. My Droid was the buggiest phone I've ever owned. Sometimes the simple act of play music became too much and the whole thing would lock up. Compared with my iPhone, sure, my Droid X could do more, but it did none of those things really well.
iPhone may do less, but the things iPhone does, it does really really well.