Iphone's browser is far from "full browsing". In Microb you can at least have a lot of flash sites slowly load, but load at least.
Im Microb you can even use Facebook chat and apps, watch YouTube videos (most of them) and basically anything you could do in a desktop computer with Flash 9 and without Java plugin...

AND, you can use a Stylus for non mobile-optimized pages, without having to zoom before, and with the virtual cursor you can highlight/hover and select/copy/paste really nicely.

You can have more "mobile-like" experience with Opera, and is still really nice and "almost" full browsing (I guess similar to an Android)... It also has a less useful version of a "virtual cursor".

If you want a "light" experience, you can try Macuco, it loads the Iphone-optimized pages by default and so it is slightly faster.

If you just want to check your gmail account, you can use MobWebMail (instead of Modest), its like a stripped-down and completely specific version of Macuco.

I think web browsing is much better than in Iphone, having used both of them...
And most important part is WE HAVE CHOICES! And they are all free and even many of them, open source.

I would also like to see news about Chromium for Maemo... I tried to compile a newer version once, but its Heavy.... And requires A LOT of things I was unable to gather. I have null knowledge of porting so... :S