And then you scare it up to 16x250MHz (16 processors, distributed over two chips), and do some finetunes to get the PS2.
Not that im an expert, but I was under the impression that the hardware of the x-box was superior to the ps2. The xbox is 'just' a 7-800 mhz p3 with a nifty graphics card.
Im pretty confident that if games for the new amiga had the same funding behind it as games for the ps2, we would have games with similar quality