this is from one of the largest and most respected tech sites on the net:
Yes, the Xbox is comparable in terms of graphics to the PlayStation 2, but so is Nintendo\'s GameCube. All three were running, side by side, Madden Football on the EA booth, and frankly, you\'d be hard pressed to tell the difference. In practice, if it came down to raw horsepower it would probably be Sony, Microsoft, and Nintendo, in that order, but you can derive as much pleasure from each depending on the content. In other words, if you are buying the platform for raw horsepower, you are using the wrong criterion.
full link:
http://www4.tomshardware.com/consumer/01q2/010523/e3-02.htmlinteresting how he lists the systems in order of horsepower...and this guy is no fanboy...