And judging by the App Store, being 'featured' only meant that the app icon was added to the New & Noteworthy section....not the giant banner you get for being App of the Week (currently Nike GPS) or Game of the Week (currently Cut the Rope)...unless I missed it earlier in the month?
I probably buy a game from these sections every week, or 2 weeks, but I almost never scour the store for hidden gems myself.
I think this section of the App Store is a HUGE draw for developers because it allows them to use their imagination when creating a new game and they still have an inkling of hope that they'll get noticed or featured.
In the Android Market however - if you create something awesome but original, you're pretty much doomed to obscurity unless you find some other marketing avenue to drive traffic to your game.
Or maybe by some miracle Google will feature you, but they have pretty limited space available for featured apps, and nobody seems to know how those are chosen.
You get a lot more visibility being featured on the iPhone compared to the other two.