For an Apple device does it really matter. Your average everyday person does not notice and does not care about a 300mhz bump or 1gig vs 2gig of ram. They just want fast. The reason Apple does not quote processor speed is because people don't care and understand mega or giga hertz; they understand fast or twice as fast.
Android on the other hand is built for hardware lovers that want the biggest and best. Bigger screens, higher resolutions, quad core processors, gobs of memory and custom tweaks to the core operating system. With Google adding so many features to it's OS you need at least a dual core to run Ice Cream Sandwich fluidly. The iPhone 3GS on the other hand got updated to iOS 6. Goes to show you that iOS has not really changed as drastic as Android.
So if your an iPhone lover don't look at the specs much because in a few months your going to have phones that make the S3 look weak. That's why I believe Android is so successful; people are willing to upgrade to have the next big thing within a years time. So many people that bought the S3 are actually wanting to buy the Note 2. It's like selling crack rock to junkies and Samsung is the pusher. And I doubt Apple will match the next iPhone release if they come out with an iPhone 5s with incremental updates. Apple has to make phones for the Android crowd or they will never be number one.