Is the 2012 13" MBA faster than a 2010 17" MBP?

Ignoring the flash storage advantage, maybe have a look here:
Mac Benchmarks by Geekbench

 

It is faster in geekbench, it's probably faster in everything but GPU

 

Intel HD 4000 with 8GBs of RAM is amazingly powerful. So I think they are pretty on par.

 

I'm running it with Bootcamp...zero issues. A friend has a 2010 MBP configured very close to what you have, and my Air (August 2012 build, Mountain Lion, 2.0G core i7, 8 gigs RAM, 512 gb SSD) smokes it in every real world test we've done since I got it.

Boots way faster, loads memory intensive programs ( Lightroom, Aperture, Sony Vegas, MS Office, etc.) faster, it's way lighter of course, and it's a good looker.

Personally, I've been really impressed with the performance of it so far

 

Does bootcamp work properly now? I read somewhere that the 2012 i7 had some driver issues with Windows 7?

 

http://www.anandtech.com/show/6186/hp-envy-14-spectre-ultrabook-review-something-more-than-envy/3

These aren't exactly MBP vs MBA comparisons, but they show relevant results. This bench shows that the ULV i7 (Air's CPU) out performs or is on par in nearly all processor-heavy tasks with last year's Sandy Bridge i7-2620M (which is superior to the first gen i7 in your 2010 Pro).

In terms of the i7 issues, an Anandtech review mentions that turbo boost doesn't work in bootcamp with W7. No idea if the appropriate fixes have been made, though.

 

I really don't know; maybe I've just been incredibly lucky with mine. It performs flawlessly ( purely subjective impressions on my part...I really don't spend much time with systems benchmarking day to day, so all my comparisons are subjective in nature).

I really have to say, the Air has TOTALLY exceeded even my most optimistic expectations. My friend, and his equally subjective impressions, has ordered himself an Air configured the same way mine is. We actually swapped for a day last week ( yes, I trust him enough to do that) to see if the impressions that we'd formed really stood up in a full day of use.

across the board, every program I used, either platform the performance difference was noticeable. I guess I view that in fairly conclusive terms when much of the "scientific" measuring involves differences of fractions of a second.

When my middle-aged brain can discern a difference in the boot up speeds of a variety of programs, see evidence of one system performing tasks at a faster or slower rate than the other, and see one laptop slowing down with too many open programs and the other still zooming along, I am inclined to say with some certainty that this computer ( the Air) is faster than that computer (the near three year old MBP)

I know that's not the case with a new MBP, or a year old one for that matter ( although I think a year old one would be a case of having to revert to scientific testing much more often than subjective test to discern a difference).

Like nearly everyone else, I'd love to have the fastest one out there. In the Air line, I do, but then there is the MBP line that is almost uniformly superior. That said, I truly do not regret get the Air in any way. I don't feel in the least bit ham-strung by reduced performance for the sake of portability. In the Air I not only have a very full featured, bloody fast and powerful computer, I have that performance in a very light package.

I really see this iteration as a complete "win-win" situation, perhaps for the first time since the Air hit the shelves. I always admired them for the light package, and always felt it a bit unfortunate that they suffered in performance...not a lot...but enough. Now, after a couple of weeks of extensive use of the Air, I am really unsure that I would trade for a more powerful MBP even if I could do the deal for the same price.

Something I've observed is that I am FAR more likely to take the Air with me "just in case" than I was even with my light ( by PC standards), powerful laptop the Air replaced. It is light, but still over a pound heavier than the air. I think that's where the MBP falls down for me...I just wouldn't take it with me nearly as much as I do with the Air.

Plus...I can run both platforms on the Air seamlessly...not something I could do with the PC....but then, you already KNEW that.