Yeah, the hand-helds are beat specs wise, but have you seen the new phones out there?
Droid X's Specs alone:
"1 GHz Cortex-A8 processor, PowerVR SGX530 GPU, TI OMAP 3630-1000 chipset"
"6.5 GB storage, 512 MB RAM"
To be honest, I would not buy a phone if I am interested in a handheld dedicated to gaming, even with the iControlPad.