Answer:
An iPhone is no match for a notebook of course. It’s not so easy call it if you are comparing the iPhone to a netbook though. But I am basing this on the 700 series ASUS Eee - a device whose novelty outweighs its utility.
An Eee’s 7″ screen is not very useful. It’s storage is lower. A tiny little keyboard is not really any better than a virtual one - especially one as good as the iPhone’s (keep in mind that the Eee does not auto correct). Although powered by a basic smartphone CPU, the iPhone does not really feel any slower than the Eee. App store is more accessible and cloud computing applications work great on it because of its full browser.
But the real point of this post - allow me to be the millionth blogger to mention the iPhone WordPress app. Very cool. But landcape mode would be appreciated.