iPhone weaknesses:
1. Maps...kinda obvious.
2. You can't get it cheap 3 months after release...basically, the only time that you will see discounts on iPhones is at the end of one year period when the next iPhone is coming out.
3. Limited customization. (But still better than Windows!)
4. No widgets
5. Small screen if you like big ones
6. No live fish tank background

7. No variation of the product; e.g. hard keyboard for example (loved that about my Samsung Epic)
8. Comes out once a year
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Real world advantages?
RELIABLE. It does what it advertises (exception being Maps...
for now). No crashes. No stuttering.
SECURITY. No need for Lookout app, no need for anti-virus app, no need for AppKiller. And this is why businesses are replacing their Blackberries with iPhones/iPads.
TONS OF APP SELECTION. No comparison there.
CUSTOMER CARE. Apple stores are usually very accomodating.
ACCESSORY SUPPORT. Tons of stuff for Apple products ranging from headphones to BT stereo equipment.
BATTERY LIFE. No need for 2nd set of batteries to carry around (or chargers).
My wife loves the iPhone now because for the first time, she does not need a charger to carry. Her texting has improved on the iPhone due to better letter spacing and auto-correct. Jellybean autocorrect or suggestions were horrible and intrusive!
My wife is non-techy and, like me, went Android first because the phone was cheaper (my wife will always choose the economical choice). She hated ICS...destroyed her phone! Battery issue became a constant hassle. Gingerbread (2.3) was more logical for her.
As for MAPS, give Apple 6-8 months...i bet that Apple will be competitive with Google with Maps.