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Clockspeed matters fuck all these days, as evidenced by Wii U's 1.2GHz CPU being around 1/3 as fast as the 3.2GHz PS3 and 360 CPUs yet clearly being more than 1/3 as powerful, and actually surpassing them in some respects.

Factors like cache, IPC, pipeline length, number of cores, etc make a big difference.

Xbone's CPU will do just fine at 1.9GHz