There has been a lot written about this topic. So many people on both sides of the debate, arguing one is superior over the other. Brent Simmons nails exactly how I feel about it:
I've done quite a bit of both web and native development, and I like them both. They each have their strengths and weaknesses. Over the next 10 years or so, they'll keep growing more similar until they are the same, at which point it won't matter. Just build the best possible app, in whatever technology makes the most sense to achieve the goals of that app right now. That's it.