Both in the real world are underpowered - known fact.
Neither are matched well to their graphical abilities, theoretically the Cell is more powerful, but much like 5 wimps are more "powerful" than 1 strong kid in school...The planning and time needed to pull off an assault on the 1 strong kid by the 5 pussy boys made it so that in practise they'd still get a kicking.
(I was an elementary school bully...haha...then it all went wrong in secondary or high school or whatever they call it these days...so got a taster for both sides)...
Basically the skills needed to get the best out of the Cell isn't financially viable imo (no sources just my gut feeling from a couple of years of reading news\posts\info) to a developer. EVEN IF they have "learnt" how to use its strengths it still takes longer and costs more and is pointless in effort Vs output...
As has been proven time and time again, devs have had the ps3 for about 3 years now and if they haven't "learnt" it by now they never will....But I think they have, its just the extra power isn't actually useable most the time (parellel processing can't be used everywhere, I also don't believe it can be used to perform GPU functions realistically and I know a thing or two about this personally).
So its either useless most the time, or takes to much $$$ to use in time, or both.
360 CPU on the other hand, is basic, easy to program and is "pretty" fast. Fast enough anyway, haven't seen any 1st party PS3 games put it to shame.