Those nice processor designers over at ARM are using giant trade show CES to exhibit their forthcoming Cortex-A9 chip reference design - and eyes on site tell us the chip more than holds its own against the 1.6GHz Atom processor it’s put up against.
The Cortex-A9 does seem slightly slower than the Intel Atom - but consider this: the ARM chip runs at 500MHz compared to the Atom's 1.6GHz.
Why should this be of interest to you? Apple's iPhone as well as many competing devices (including the just released Nexus One) are presently powered by ARM processors