"Buzztouch is hosted (or self hosted) software that helps you create and manage iPhone, iPad, and Android apps."

After spending a few months with buzztouch, I've come to develop a love/hate relationship with it.  On the one hand, the product IS phenominal, and if your goal is to develop for Mobile Platforms – but you don't have a lick of any programming experience – you can do no better than using buzztouch.  Not only is the web interface for the application extremely ease to use, it is fairly extensible via the inclusion of stock and community plugins.  What I also like is the ability to include custom html/css into various "screens" of the app.  So in lieu of learning Objective-C, I can still create unique screens using web languages.  On that note, you also have the option of referencing online resources (like html, files, etc), or local resources.  

One of the most appealing aspects is running your app on both Android and iOS devices, all from one project!  Likewise, if you ARE a familiar with programming, you now have fantastic template tool at your disposal to kick off multi-platform projects.  Very cool.  Then there's all of the supplemental resources via the community forums and Buzztouch University.  Also, did I mention that it's free??

For me the downside really boils down to esoteric objections over the various limitations in the Free Version.  And without learning Obejctive-C, or investing some cash in buzztouch (to unlock more advanced features), I was not able to go past a certain point with the trial.  As of this writing, free accounts allow for only 3 – somewhat limited – apps, so far as my experience goes at least.  On a scale of 1 to 10, I would have to rate the apps I was able to produce as a 7.  I'm going to keep it on my radar, and give it another go in a few months.

"With Andromo, anyone can make a professional Android app. There's no programming required, plus Andromo generates 100% pure native Android apps."

Previous to buzztouch I started with Andromo.  While this generator has a considerably smaller scope than buzztouch, what it does well is in delivering on the promise of being a "Free Online App Generator".  I don't believe they have any restriction on the number of apps you can write, nor in the number of custom resources you can include or reference.  

Projects are limited to Android devices however.  In either case, if you have access to both Android and iOS phones, I would still recommend starting with Android App development using Andromo.  I hashed out countless ideas for Apps I might actually want to pursue, and had a blast all the while.  App compilation and installation procedures are also very quick and easy,  

Unfortunately, limitations in the product and not knowing C++ led me to a deadend, which is when I decided to give buzztouch a go.

Update: July 2012

Andromo is now a paid service, and boasts a number of new features to somewhat justify the end of the free ride.  I have not investigated what free options remain, if any.