IMHO, not even in the same universe of playability, and if they insist on using the same music as they used in the trailer, I would actually grin while deleting it.
I played both. "not even in the same universe of playability" doesn't explain anything. Angry Birds looks to me like another projectile-shooting game, but with birds. Shooting birds onto even more elaborate structures I find tedious. I did a level or two, and didn't bother to continue. On the other hand, Tiny Wings has unique gameplay (at least as far as I know): you can fly a little bit, but generally you use slopes to accelerate (a la vert ramp); touch to accelerate downwards. Also, I find it hard to be so angry on the pigs as to bash them for many levels. Tiny Wings doesn't want you to be angry at anyone; you just fly because it's fun, then you will want to fly longer and higher.
Yes, the music is the same. I find this light-hearted tune very fitting to the graphics and gameplay.
@ iTunes: http://itunes.apple.com/us/app/tiny-wings/id417817520
Official Gameplay Trailer: http://www.youtube.com/watch?v=x6pT_2E5xI0