And to everyone trying to build great mobile-web-in-a-native-shell iPhone apps, give up. Facebook couldn't do it, and neither can you.
I agree with Mike. Mobile web applications that perform as fast or faster than native / compiled applications on iOS is simply not on the horizon. Could it happen? Could Webkit or another engine get so fast and efficient to make it plausible to build entire applications for mobile devices like phones and tablets? I think so. I just don't see it happening in the next few years. Native applications are simply the best bang for the current buck.
Side note: Man I miss working with Mike. Hi Mike!