better is subjective. i think in some ways, the droid's screen is nicer/more practical. plus is has a few more pixels of resoultion.
but in most ways i agree, it's the droid, slightly faster, thinner, and has double the ram.
it can mostly come down to: want a physical keyboard? droid.
want a thinner (sexier?) phone that's SLIGHTLY more future proof? nexus one.
this is assuming you're looking at similar network coverage where you live/work.