I think there's a Nikon/Canon effect here. For a while Nikon is top dog, then Canon reply and ease ahead. Then N bounce back...
Right now, Phase backs are better than Hass because of their usability (can't comment on image quality as I have yet to test the IQ180). Until the IQ range was released, H was the innovator (eg, better screen, True Focus which is really useful for many situations). Perhaps H will counter soon with equally enticing features. I agree that if they don't then they might be in trouble. Right now, I'd be hard pushed to make a choice. As good as the IQ range seems, the Phamiya body is manifestly not in the same league as the H4. Glass, near as dammit, about the same.
Having changed systems too many times in the past, and taking into account the ever increasing cost vs ever decreasing budgets, I would imagine that for most people the most cost-effective approach is to use the cheapest system that does the job, keeps clients happy and that you can tolerate, and not simply chase the latest release.