Nexus one vs iphone - right timing?

We have a contract re-up in about 5 weeks and my wife and I are both planning on going with the Nexus, mainly due to my love of the Android operating system. Although I see many plusses and minuses with both phones, I'd say the power edge goes to the iPhone, but the things that are important to me are on the Nexus. First, the Nexus runs Android, which I love. It has the multitasking capabilities as well, that i hear are going to be coming on iPhone, but theyre already here for Android. Second, since we buy mainly blu ray movies we have a large collection of digital copies which the Nexus has a 720p screen, thats about a whopping 2.5 times the pixels in an iPhone. Anyways, I think its comes down to what you want in a phone. iPhone probably ranks in a bit higher on most peoples meters who have used both, but for what i like, I'm sticking with the android platform and going Nexus.