Size and weights: iPhone is narrower (2.4" vs 2.6"), longer(4.5" vs 4.48"), thinner (0.48" vs 0.59"), and slimmer than Bold (4.7 oz vs 4.8 oz).
Navigation: iPhone applies touch screen while Bold applies trackball and QWERTY keyboard
Display: iPhone's screen (3.5" screen) is larger than Bold's screen.
Features: iPhone 3G offers 3G support, GPS, camera 2.0 MP, push email (mobileMe & Microsoft Exchange ActiveSync), desktop class web browser, built-in accelerometer so that iPhone can respond in it's user motion, and widescreen iPod. Bold offers those features too plus video recording and corporate data access (i dont know for sure what this feature is, if this feature is about sending data through push email then i think this feature is offered by iPhone too).
Battery: iPhone's standby time is 300 hours (approx. 12.5 days), while Bold's standby time is 13 days.
Capacity: iPhone offers 8GB or 16GB flash drive while Bold offers 1GB with expandable memory supports for microSD card.
Security: Bold offers more security features than iPhone.
Network: iPhone applies these networks: UMTS/HSDPA, GSM/EDGE, Wi-Fi, and Bluetooth, while Bold only applies networks: Wi-Fi, GSM, and UMTS.
From those product specification comparison, it seems that Blackberry position itself as secure mobile phone for corporate customers, while iPhone 3G position itself as stylish 3 in 1 product that redefines what mobile phone can do-again.
Credit of this picture goes to iPhone Blog (http://media.shinyplastic.com/prodimg/blackberry-bold-iphone-comparison.jpg).

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