I think it's the iPhone OS 4.0 that's more important than the 4th generation iPhone hardware when it comes to comparing.... So I think you probably have 95% of the criteria for making the decision already....
Not really ... The main attraction for the N1 is its ability to be purchased outright, in which case, I can shop around for the best V+D monthly package. It's certainly true that's not how the iPhone currently is marketed, but I expect Apple to feel the N1's heat, and I personally would not be surprised to see Apple adopt similar marketing. Afterall, it's not like Steve Jobs needs subsidies for attracting buyers to iPhones any longer. In any case, one can still hope ... and it would certainly be worth waiting to find out.
cheerios from the Avalon