iOS products don't need the specs to do the same job as the android powered devices because apple make both the hardware and the software.
From 9-5 mac:
Since Apple controls both the operating system and hardware design of the iPad, it is able to attain design efficiencies that other tablet manufacturers cannot. These efficiencies become obvious in areas like the memory and the battery, where Apple maintains advantages in cost, space savings and performance compared with every competitor in the business.
It’s a post-PC use case. You’re not bounded by performance. You’re bounded by user interaction. I don’t think a user can distinguish a performance difference or get a sense of the speed of the hardware by using it. It’s a different metric. The iPad’s efficient memory usage stems from the fundamental difference in the architecture of the operating system Apple’s iOS handles multitasking differently than other tablet operating systems, allowing it to reduce the amount of memory required to support the microprocessor.
Plus iOS 5 is due in the next month or 2 making big leaps forward for both pads and phones
(MacBook Pro / Iphone 4 owners)