IOWA
Mr. Logic Pants
The GPU on the iPhone 4 is identical to the iPhone 3GS. The Nexus One isn't as powerful in that regard. But neither GPU is hardly utilized on the browser test that we're discussing. Both are sufficient for the task.
Also, the first application of the Cortex A8 (which is the core of the A4) was back in 2007, by Nokia. All Apple did was combine it with PowerVR SGX technology and create one unified chip. That is the A4.
If Apple had used the latest technology for their chipset, they would have used the Cortex A9 architecture.
AnandTech has a very good comparision of the two chipsets and how they render web pages. On Network, the iPad A4 performs 10% faster on average, 37% faster when the network isn't a factor. Couple this with the fact that many are starting to believe that the iPhone 4 A4 chipset is under-clocked to 800mhz for battery life and it's reasonable to get a slight advantage on the N1.
Hardware arguments aside. My main point was that the speed difference observed between the two devices in this test is very small. In day-to-day use these results could go either way. The results of this test prove nothing as far as Android vs. iOS or Nexus One vs. iPhone 4.
So I guess a core i3 and i7 then, since they are based on the would be fair comparison too since they are based on the same architecture. Or all x86 processors for that matter.