In my opinion, the Android can do everything the iPhone can do, but it can do other things too, if you want. So why go with the iPhone, that just gives you the one option, when you can get all you want and more from Android?
Because you know exactly what you want and the iPhone gives it to you? Okay, valid, but what if you change your mind? What if something changes in your life or in hardware and you want to use your phone a bit differently? With the iPhone, you're stuck with what you've got. Android is open source-- it can literally change as much as I want it to.
That's my take on it. Feel free to agree or disagree. The iPhone is certainly an excellent phone, regardless.