I think you mean 'interleaved', not 'interlaced'.
Interleaved data should generally be more efficient with regards to cache coherency/cache misses. What I do in my codebase is define a runtime structure that maps components to offsets within vertex buffers. This allows me to interleave the data all I want, or break it into separate buffers, or any combination thereof. I tend to put all my static components (those that do not change every frame) into a single interleaved buffer, and all my dynamic components (those that will change every frame) into a single different interleaved buffer. This lets me take advantage of the one array being cached to the hardware, which is a nice bandwidth savings, while still interleaving the data that is going to change every tick.
Remember that OpenGL provides you with all these options because there is no globally-optimal choice on all hardware for all use cases. Particles, sprites, static meshes, dynamic geometry, skeletally-animated meshes, etc... all represent different optimization spaces, and you will most likely find that the best data regarding optimization is the data you gather yourself. I certainly would not trust anyone else's data to the point of architecting my graphics engine around it without verifying their findings locally first.
As for all current iPhone hardware, it is confusing to say that interleaved VBO's are "supposed to be faster." VBO's do not offer you any performance gain on the iPhone over normal vertex arrays, as they are not cached in video memory. Here is an analysis that breaks this fact down fairly clearly:
http://blackpixel.com/blog/399/iphone-vertex-buffer-object-performance/VBO's aside, as I mentioned above, the performance gains for a given use case can't be broken down into a heuristic as simple as "always use interleaved VBO's". Also, the performance gains associated with interleaving are unlikely to be truly significant except in very specific situations.
I recommend the following page to anyone interested in getting off to a good start in learning about vertex specifications:
http://www.opengl.org/wiki/Vertex_Specification_Best_PracticesDo post your findings as you continue your experiments!