I find Google (much) better at address lookup and searching for commercial establishments, but most of the places I've lived/visited have better OSM data in a number of other ways. Google is particularly bad if you're a pedestrian: it seems to be missing a lot of non-auto paths, especially things like urban staircases in hilly cities.
There are 2 problems here: (a) OSM's doesn't have as much house numbering data (that'll improve with time) and (b) addressing → lat/long is pretty freaking hard. If you limit yourself to one country and one address system, it's much easier. Otherwise things get messy fast.
