I am thinking about how an application can be written to work on both Windows 7 Phone and IPhone, one option is to use MonoTouch and structure the app with MVVM, then only the views will need to be different between the platforms.
However MonoTouch does not seem to support data binding.
When (if) data binding support is added to MonoTouch, please provide an answer to this quesions and I will change the excepted answer.
see also Is there any data binding mechanism available for iOS?
Straight out of the box, though, MonoTouch doesn't support databinding. It follows the Apple MVC framework for apps, which doesn't have binding at all. There is a project on github that simplifies a lot creating data tables, though: http://github.com/migueldeicaza/MonoTouch.Dialog.
There has been talks recently about porting some of the silverlight code (from moonlight) to MonoTouch, now that Apple opened the floodgates on what can be done with iOS apps. The Novell guys haven't released anything yet, but my guess is that somebody is probably looking into it right now.