It's far more complicated than that I'm afraid...
The CPU, whatever it actually is, seems to roughly match and possibly exceed a Phenom II clock for clock. Assuming IBM really managed to achieve that, which I doubt considering the 750 line is dead and buried for years, we'd be talking one hell of an "enhancement". Pentium M to Core levels, basically (and yes, the latest Core series of CPUs are pretty much "enhanced" Pentium Ms from 2003). And that's the main problem: Maybe the specs are technically correct, but they're extremely incomplete and the way they're presented is highly biased. It doesn't really tell us anything about GPU performance for example, but on the other hand, it only mentions RAM available to developers. I believe the PS3 initially reserved 96MB? But nobody claimed the PS3 had 160MB RAM.
So there you go. The specs tell us nothing about performance or featureset, or anything, really, but seem to be laid out in a way to make the system look as weak as possible. I don't expect it to be a beast or anything, but this is just bullshit.