Am I correct in stating that, on paper at least, the Gemei A330 basically does everything the Dingoo A320 does, just better?
Not really. We don't know how good the native emulators will be, or any of the new software. And Dingux on the A320 has given way to many, many, many things that the Gemei A330 won't have. But if they do get Linux on the Gemei A330 on release, or soon after, that will probably change pretty quickly (assuming there are no huge problems and that it's price is kept relatively cheap).
Have they even released informative hardware specs for the Gemei A330 yet?
Does anyone know if the LCD will be improved on the Gemei A330? I was reading this about the Dingoo's LCD and it's one of the reasons I'm waiting for the Gemei A330 to come out before I make my decision.
That's really not a big deal for most people. It probably won't bother you much, if you even notice it. But it would indeed be nice if they used the proper screen this time.