Two 8-bit cores != a 16-bit CPU.
By your math, every dual-core 64-bit Intel CPU would actually be a 128-bit processor, a quad-core would equate to a 256-bit system, and the Cell would be a very studly 1088-bit chip (64-bit PPE + 8x128-bit SPEs).
You appear to be confusing "linear" scaling with "exponential", which makes a serious difference.