They have a 3.06 GHz P4 now. I'm just not getting one.
No, I'm sure it smokes the pants off a G4. At most stuff, anyway. Each processor has its advantages. The G4, for one, uses far less power than a P4 or Athlon does.
If we turn this into a Mac-vs-PC debate, well... you can go either way. Each system is good for its own things. I prefer a Mac for pretty much everything except gaming and IRC. I just think it's a better operating system, and I can accept the speed tradeoff for the advantages I feel it offers me. The Mac will be faster for some things (many things in Photoshop, for example) and, in general, the apps will allow you to work faster (iMovie vs Windows Movie Maker, for example). I get more done and have more fun on my Macs, and that's why I'll continue to buy 'em.