I have to kind of wonder if Apple is buffering touch events on their controller and then sending them onward to the UI as postprocessed events and gestures.
Maybe I'm the only one left with a boggy 3G running iOS4, but when the system lags down I can usually keep typing and the keystrokes will catch up. Does the same thing happen on Android?
If gesture processing is being done on the controller side, that would take a lot of perceived bog out of the UI.