Well considering the iPhone has a slower processor, smaller screen, smaller MP Camera, less system memory, no customization, no quick access buttons (ie soft touch), no multiple home screens, no flash support(flash lite isn't great but works in a pinch), and dated styling and GUI.
I think the incredible wins hands down. I think as far as syncing with iTunes and listening/watching media etc, the iPhone wins but it would be close considering the apps you can get with the Android platform. I think some people are still under the iPhone security blanket when they should be moving on to high school here.