The original Super Stardust HD was able to render an impressive ~83 million pixels per second. They estimated that by 'optimising for' / 'taking more advantage of' the Cell processor they would be able to achieve about 50% more graphics performance with their new engine.
1280 * 720 * 120 FPS = ~111 million pixels per second. So about ~34% more pixels being rendered per second.
Housemarque has talented coders!