iJon nailed it dead on on this one, I think.
Slashdot has some threads like this:
http://apple.slashdot.org/apple/03/06/24/1232237.shtml?tid=126&tid=181
which I've found have the best arguments from both "sides." When the dust cleared, it seems that the general consensus is that the benchmarks were as fair as possible, and that the G5 really is faster.
Here's the qick responses to this idiot's article:
1. SPEC/Compilers. Apple's choice was either to use GCC (which all Linux and OSX users use daily) which runs on both platforms, or use ICC for the intel box, and an optimized Power4 compiler for the G5. It's a lot more fair to use the same compiler on both machines, so that's what Apple did. Had they used optimized compilers for both machines, they'd likely be under more fire yet, as this would be much LESS fair. When people say that "apple made the intel numbers lower than what dell gave them as," that's because Dell was using ICC and not GCC, not because Apple fudged numbers.
2. "They Used Red Hat... not Windows." Guess what kids, Apple VP Greg Joswiack answered a few questions about this, and it turns out that they used Linux because it made the PC look BETTER -- other sites show the same thing; the PC gets more spec points under linux than under windows.
3. It's also a big consensus that the real world app performance couldn't have been fudged, and that there's no doubt that the G5 knocked the P4 on its ass in real world performance tests.
4. Another number people have been debating is the quake 3 figures apple posted on their site -- showing a P4 getting 275 fps and a G5 getting 350 fps at 640x480. The gamers screamed -- P4s are capable of 400fps with such setups, they yelled, and pointed to benchmarks from Toms Hardware, etc. However, at the end of the day, it was pointed out that Apple was running default config (sound ON)for 1.32 and runing Demo4, while Tom's was using 1.17 and Demo1 and had some tweaks (sound OFF). Benchmarks were run again all over the web, and sure enough -- on 1.32 Quake 3, with sound on, and running Demo4, the P4/R9800 gets between 270 and 280 fps.
Anyways... believing all of Apple's propaganda would lead you to believe even your iBook is an "awesome game machine," but in the case of the G5, I think the box really is as fast as they're claiming it is.