A quick sunspider test with a US Samsung Galaxy S3 1.5GHZ snapdragon on Jelly Bean's likely highly-optimized browser shows performance very comparable to a first generation intel 1.66GHZ Atom 230 single core on the latest Firefox. Granted it's a mostly single-threaded test anyway but the ARM has both cores available and the test is pretty cpu-bound after it starts.
I'd estimate the latest i7 is at least 3x faster per-GHZ on this lightweight but fairly general (cpu-wise) test.
For heavy lifting, a recent i7 with it's cache size, memory bandwidth and accompanying i/o would probably compare to an ARM that is running at about 5x the clock speed.
I don't think that ARM can be suddenly declared the best at anything other than maybe performance-per-TDP.
Performance-per-cycle is the more difficult problem to solve... ask AMD how hard that's been since the original Intel core series appeared on the scene in 2006. Prior to this and after it wasn't just a chip clone maker, AMD dominated this metric.