Um, here's a few things Android does better than the iPhone:
1) Multitasking
2) System-wide voice search
3) A decent Gmail app with "actual" push Gmail
4) More phones on more networks = more choice for consumers
5) User swappable batteries
6) Like it or not, a more open app ecosystem. We have Google Voice, do you?

7) Adobe and Google have gone on record saying Flash is coming to the Android platform. Sure, HTML5 might be better, but in the meantime I'll be more than happy to watch Hulu on my Droid while you run one app at a time on your iPhone.
Granted, Apple could add several of these to the next version of the iPhone, and I hope they do, because it's unfortunate such a great device is limited in so many ways. And until Hulu and YouTube make a complete move to HTML5, Flash is the way to go.