3DS uses DMP's PICA(R)200 chip

[Christian973]

Here's a chart comparing the 3DS with the iPhone and PSP. Apparently yes, the 3DS's GPU is more powerful than a GC and Wii clocked at 400MHz with built-in powerful shaders that can make it look like a crappy ps3 or xbox360 game. So the dev rumors weren't false it was true due to the shaders being more powerful.

http://www.hardcoreware.net/nintendo-3ds-specs-comparison/