I'd second the point that Titanium isn't 100% write-once, run-anywhere. You'll certainly get a lot of reuse between your app for iOS and Android if using Titianium, but you'll have to tweak your code for each platform. I'm still a big fan however.
I tried writing an app using JQuery Mobile, with plans to deploy within Phonegap. To be honest, the performance just isn't good enough. Since Titanium builds the app using native components, then it's so much more slick.
I do love JQuery Mobile still however, and will definitely keep what I have for the actual Mobile Web UI.
NB. Titanium also seems to compile to a Mobile web version, but I couldn't get that working. I might look into that more in future.
Appcelerator the company has not been great to work with. I paid $50/mo for an individual account, they did away with that plan and made it free, but kept charging me the $50 every month. There was no web interface to downgrade. I had to contact them multiple times to fix this. This might be due to growth and being stretched thin as opposed to maliciousness, but it left me with a very bad taste in my mouth.
The app has been downloaded thousands of times and has good reviews so I think it gets the job done. I built it for a gov entity, so contact me via my profile if you want to know more about it.