Native or Web.

So many excellent points from Matt Gemmell on the superiority of native as compared to web. It’s going to depend on your needs, of course, but for areas in which native excels, the web really has no chance. Which is not to say web sites and applications on mobile devices will not improve over time, particularly as they gain access to additional device APIs and designers continue to find ways to compensate for the need to target multiple devices simultaneously.

Matt summarizes well:

But when your goal is to make a mobile app that will delight, each technology path giveth just as it taketh away.