I'm going to do a bit of a comparison between the Wii and the last gen consoles, just to clear up a few issues.
CPU clock speed
Xbox 733 Mhz
GC 485 Mhz
PS2 299 Mhz
Wii 729 Mhz
And while I don't have any stats to back me up here, it seems that the Wii's more modern powerPC processor is more powerful than the xbox's, which is a downgraded pentium III
Ram
Xbox 64 mb at 200Mhz
GC 43 mb at 324Mhz
PS2 32 mb not sure about the clock speed
Wii 88 mb not sure about clock speed
Can we all agree, the Wii is much more powerful than the xbox?