I have the Droid X..And I think it's amazing. Even though there are newer smart phones that are out now, I'm perfectly content with my X
I have an iTouch and my gf has the iPhone..So I'm well aware of everything Apple has to offer. And I highly prefer an Android powered phone over the iPhone. You're way more free to do whatever you want, customization is endless, and you can make your phone fit you.
Imo, the iPhone is only better when it comes to the big name apps. The iPhone has more apps that I like on their system as compared to Droid, but that's not to say the Droid Marketplace sucks. A lot of the big name apps are on there, but some of the smaller ones I enjoy on Apple are sometimes not on the Droid Marketplace yet.
I think if you just like your basic run of the mill smartphone..Don't really care about too much customization and having it do exactly what YOU wanna do, as opposed to how the manufacturer wants you to use it...Then I would go with the iPhone. If you're more in depth with it, enjoy customizing your phone, and having more freedom, I'd go with something other than the iPhone.