The newer 4th gen Intel Core CPUs can perform more instructions per GHz. This means tremendous battery savings since the higher the GHz, the more power the CPU requires, the less battery life you get. In fact, the newer 4th Gen Core i5-4250U found in 2013 MBA is a hair faster the 3rd gen Core i5-3337U found in last years MBA. See the comparison here: http://cpuboss.com/cpus/Intel-Core-i5-4250U-vs-Intel-Core-i5-3337U
This is true of many other things like WIFI speed, but no longer true of processors, which takes the path to increase performance not by raw clock speed but increased parallel processing.