Due to the thin form factor of the MacBook Air, they have to use smaller chips to avoid overheating, etc. As a result, the base 11" MacBook Air, for example, has a 1.6GHz Core i5 processor, compared to the 2.3GHz Core i5 found in the base 13" MacBook Pro. In the end it's just slight performance differences. Feasibly the air runs 'slower'.
True Ivan, but slap in a faster SSD, such as from OWC, and the point is moot.
I'd put my 2010 11" Ultimate with a OWC SSD, as well as the NVIDIA Graphics, up against the new ones anyday