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The Android-powered phones can run multiple applications simultaneously. Switch seamlessly between applications. Notifications in the status bar alert you when apps running in the background require your attention [Source].
The iPhone has a decent rival now and it appears that Google have done their homework. One example Copy/Paste which is missing from the iPhone. The application store is another area that like Apple, Google see as a strong market. The mobile industry is huge now with people like myself wanting the functionality of a PC/Laptop in our pocket. Applications released through the handset enable us to be connected all the time and take our online presence with us everywhere.
I remember when I had my XDA Exec a few years ago, how I wish that would have had the features available now. So who do I feel will emerge as the winner?!? I believe consumers as with Apple having it all their own way up until now, what with there being no competition really as no one could hold a match to the iPhone. The G1 is just the beginning as I am sure we will see many more handsets released with the Android operating system. Windows Mobile now it's your turn...