I doubt that very seriously.![]()
Android doesn't use hardware acceleration on its UI elements, making the phone seem slower. So the GPU is essentially idling while the CPU is doing all the rendering. You can see the issuehereon Android's project page.
It may be less noticeable at 1GHz but my friends HTC Hero has a hard time scrolling through contacts which makes it feel slow even though it is about the equivalent of a 3G.