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Better than the Xbox, not even close to the Xbox 360

I would say a PS Vita, but only because I own both.
 
This really isn't a complete/fair comparison as both graphics cards in each device are made for vastly different purposes (one is all out graphics versus mobile, efficient graphics).

But from a pure power standpoint, the A7 GPU puts out 115.2 GFLOPs (double the performance of the A6) and the Xbox 360 GPU (an ATI Xenos) puts out 240 GFLOPs.

Also saw somewhere in my Google search that the PS3 puts out 3 times as much power as the Xbox 360 GPU, but you can see they aren't worlds apart from a graphics quality standpoint so comparing these numbers really doesn't tell you a whole lot.

I get why you want to compare these those - point is when devs put time into their games, you can get some NICE looking games on an iPad (Infinity Blade 3 for instance). Don't necessarily have to put out the same amount of power as a PS3 or Xbox.

Given Apple has been able to double the power of their CPUs and GPUs each release, perhaps we'll see an A8 with the same raw power as an Xbox 360 this year, though if we're being honest - the Xbox 360 has been around since 2005.....

Again - completely different devices/purposes.
 
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