ARM11 is not better than ARM8? Whats the deal with that....
ARM11 (ARMv6) is better than ARM8 (ARMv4 IIRC).
However you are talking about ARM Cortex A8, which is better than ARM11.
Think of Cortex as being like "ARM12", and the letters behind being different implementations. FYI there is ARM Cortex A5, A7, A8, A9 and A15, in increasing order of performance and cost. These all run the ARMv7 ISA (A7 and A15 run ARMv7a IIRC, they are completely ISA compatible, and are designed to run in tandem, low power apps run on the A7, high power on the A15, and the overall result is significant power savings).
There's also ARM Cortex R series (embedded) and ARM Cortex M series (really embedded).
ARMv8 is coming along, and we should see things next year. It has a 64-bit mode that is very PowerPC like. Chances are a fine thing that Hyperion will do a release of AmigaOS 4.x for ARM though, with full SMP and MP, etc (might as well do this when releasing on a new non-compatible ISA).