First of all the G5 still is really a fast CPU!!! Don't underestimate the G5.
Second: Newer grfx cards are not always faster if they are not of the same "class":
The Radeon 9800 SE is not a bad card either.
The X1600 card, and HD2600 cards are of a newer generation, thus supported newer shaders etc, but if the games don't use them, the raw GPU speed and GPU memory is of more importance.... and the drivers as well.
The 9800 series was top-notch card of its generation. The X1xx series followed it, and the low-end was the X1600, and the high-end the X1800 (later replaced by the X1900).
The HD2xxx series followed the X1xxx series.... and the X2600 is the low-end card...
(explanatory note: from slow to fast: ATI Radeon: x6xx is low-end, x8xx is high-end)
A very simple car-analogy here...
The 9800 was the BMW M3 series 1.
The X1600 was the BMW 320i series 2.
The HD 2600 was the BMW 320i series 3.
Which is fastest? Well.. the M3 series 1 of course!
But the later series had more features and luxuries...
A bit over simplified, I must admit, and the car analogy is a bit crude> but I think my point is clear. Newer is not always faster.
Added to that, maybe porting the games from PPC to UB suffers a performance hit too...