The HTC Touch Diamond was unveiled last week and while many of its features are pretty impressive, the big turn-off is its pretty steep P 41,000.00 SRP. Dubbed as the potential iPhone-killer with its equally plush look and intuitive touch-screen interface, it managed to beat the iPhone in making its local debut in the market.

So, how does it actually fair with the 3G iPhone?

Well, with what we’ve gathered so far, the Diamond seems to be a better choice this early on in the race. Why so? Given that the price won’t tie you down to a monthly plan to a single network and it comes with a better 3.15-megapixel camera, it surely beats Apple’s mobile phone in these aspects. The UI looks quite interesting as well. You can check out Technograph’s hands-on video of the Diamond to better understand what I’m talking about.

However, the iPhone does come with more storage capacity at 8GB (as opposed to the Diamond’s 4GB) and an ever growing community of developers eager to churn out applications for popular device. If specs were the only basis, hands down, the clear winner would be the Diamond, but the user experience is really something else.

We’ll wait for a review unit and the official release of the iPhone locally before we give our finally say on this intense showdown.