Last week, Palm released the much-anticipated Pre. Hailed as the iPhone killer, the Pre is loaded with features that further push the limits of the smartphone category.

Today, Apple is anticipated to release a new iPhone 3G with bumped hardware specs and new software to directly compete with the Pre.

Two smartphones with near-identical hardware and features will have to find other arenas in which to compete, not the least of which is brand.  Apple has set the bar in recent years, while Palm, with a strong history, has lagged behind in recent years and hopes to recapture some glory.

While there are many ways to measure brand value that are much more scientific and comprehensive, this one is definitely more fun.  Take a look at the waiting lines to enter the iPhone launch two years ago, and the Palm Pre launch last week.  Looks like brand equity to me.