UPDATE
Data exchange between the client and the Meteor server is carried out using WebSockets . AFAIK, WebSocket doable with PhoneGap and your application (iOS or Android) will not be rejected. There might be some work allowing you to use WebSockets with PhoneGap. Here's a StackOverflow post about it:
Socket.io + PhoneGap
As for the App Store apps built with PhoneGap and Meteor, I think it's too hard to find at the moment.
ORIGINAL
I do not think that anyone can answer this definitively. This is because Apple will rate and reject your application based on your content, performance, and presentation.
If your PhoneGap application looks like a web application or is running slowly, it will be rejected.
Here is my personal experience (not particularly with a meteor).
My company developed the app with PhoneGap and SenchaTouch earlier this year. It was rejected by the Apple App Store because the reviewer thought the application was too similar to webapp. Our application, using SenchaTouch, looked very native. But there was a noticeable difference in performance. And I think this ultimately caused a failure.
In the end, we had to go to our native language, because otherwise there would be no way to achieve the same performance. I think Mark Zuckerberg also agrees.
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