It might have something to do with how Google is more familiar with the Nexus One hardware, or just the fact that the phone is stripped of superfluous software (such as the HTC Sense interface), but the browser on this model runs exceptionally fast.
We tested several feature-rich sites, such as Facebook.com and the sites loaded very quickly (as long as Flash was not used, which is not supported on the Nexus One). In a side-by-side comparison between the Motorola Milestone, iPhone 3GS and the Nexus One, the Google.com home page came up just a fraction faster on the Nexus One. Granted, it is a sparse site, but also a good test of figuring out the domain and loading the minimal graphics as fast as possible.
WEB SURFING: Google.com came up faster on this phone than any other model we've tested, including the iPhone 3GS