In practice, everyone uses UICollectionView that I've come across, when they only need a UITableView. "It's one-dimensional. It goes up and down. Why are you adding unnecessary delegate methods for layout AND data?". I once spent an extra 2 hours helping a startup find out why their UICollectionViewCell got squished because the owner, who didn't read the Animations manual, nor HIG, nor the UICollectionView guide, decided to use it and add variable heights and anims. Needless to say, he gave himself a headache and much lost time on a non-business-critical issue he could have avoided by simply using a table cell, since there's no extra layout delegate + Nib.
Let me get this straight, I am all for UICollectionView's when your data and display need it. They're very powerful. But in practice, most people I've seen have been using them on lists.
This brings up another flaw. They're also used on short, constant lists that won't change, ever. In this case, just make a Xib. Or write a custom view that stacks them. Why? Because you don't need the memory management for 5 sets of labels with a button or switch. If they might change, then yes, use a list. If you want physics, then UICollectionView works well with a some cool effects. But do you really need to add 5 delegate methods and a layout system for 5 labels that will never move?
Also, I'm not forgetting that iOS has a native stacking view now too. I can never get it to deform how I want, even though I'm quite adept at the 2D and animation systems, so I never use the built-in one.
All I'm saying is, define your requirements. Maybe you don't need either of these, if your UI isn't adding/removing items and refreshing itself. Or maybe you want to write a Card Game and throw them out virtually on a table, then use UICollectionView with a physics system for its layout guide.