1) Verizon's network - seriously it rocks.  No, it's not perfect.  But it really is the best.  Their customer service and website, not so much.

2) MULTITASKING!!!!!!!!!  Seriously, this is HUGE!!!!!!  You can do all sorts of things on an android phone all at the same time.  Listen to music, edit a document and get updates on sports scores at the same time.

3) Widgets.  I don't think the iPhone OS allows widgets on their home pages correct?  This is huge for me.  No need to actually open an app to get a summary of information.  For instance you can have weather widgets, sports scores widgets, photo widgets, mail widgets, etc. etc.

Android is very young so no, it's not as polished as the iPhone and there are surely more hiccups and bugs as the android has to support MANY different hardware platforms, but as it ages it's going to get better and better.