I don't know man... some of the polished iOS games now are already damn good, and that's 1-2 gens behind the NGP. They will surely advance, along with the higher cpu and gpu power of iPhone 5 and iPad 2.

And iOS has a more developed (and bigger) market for digitally distributed mobile apps. This will affect the type and budget of the games....

No doubt that the NGP definitely has an edge with its control schemes (multitouch, back panel touch, accelerometers, DUAL ANALOG STICK, d-pad and the buttons, etc);... and they surely will bring the 'serious' game developers

So this is definitely going to be an interesting 'fight' and the consumer will be the beneficiary

ps: I just bought Dead Space for iPad... it is pretty dang AMAZING! The gfx, control scheme, playability.. atmosphere. I've to say it ranks nearly up there with the xbox 360's!