The reason the Pentium 4 is slower then any Athlon processor is because of its long pipeline. (over 2x the size of Athlon's) this allows for higher clock frequencies. As Intel continues to crank up the speed, performance gaps will start to show, and Pentium 4 will start to pull away.
I for one, am 100% behind AMD, simply for their price-to-performance ratio.
What will decide who is the best, will come at the end of the year, when AMD releases their "clawhammer" processors.
Until then, I think the battle for the fastest processor will keep going back and forth between Intel and AMD, right now they are about tied.