JohnMuch.com posted some Javascript benchmarks of the 8GB iPhone compared to his 2.4GHz Intel Core 2 Duo with 4GB of RAM. He ran a number of different online benchmarks including JSSpeed:
iPhone
Try/Catch with errors 378
Layer movement 3078
Random number engine (Did not compute)
Math engine 3474
DOM speed Testing (998/1000)
Array functions 1739
String functions 535
Ajax declaration 1089
Total Duration: 10293 ms
Macbook Pro
Try/Catch with errors 5
Layer movement 33
Random number engine 28
Math engine 43
DOM speed 21
Array functions 10
String functions 11
Ajax declaration 8
Total Duration 159 ms
More benchmark results are available with links to tools to try yourself. [via Ajaxian]