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The worst thing about these arguments is how meaningless it really is ...

Suppose MikeB is correct and there still is a lot of untapped potential in the Cell processor which will (slowly) be exposed over the rest of this generation. This will ammount to (maybe) 25% to 50% more performance ... which may sound like a pretty big boost but in reality is a smaller gain than what the Gamecube or XBox had over the PS2 at a time when diminishing returns mean that you need dramatically more processing power to see the same improvement.