We chose killer graphics plus 10 hour battery life over a very small CPU speed increase. Users will see far more performance boost from the speedy graphics.
But Steve Jobs is right though. You have to understand the term "Killer Graphics" in the light of having this GPU in such a small, highly portable 13" device with 10 (!) hours of battery life. Now this is still an awesome deal, if you ask me.
I´ll buy the 13" model soon and will boost its speed by replacing the HD with an SSD myself, once the prices of those drives are dropping to reasonable rates. I´m glad i´ve been waiting until Apple did it´s update, because now you are getting much more (4 Gigabyte Ram Standard, Faster GPU, Faster CPU) for about the same price on the 13" model. The only thing i´m still missing is the 3G Modem, that would have been a dandy addition.