He basically implies, that today’s engineers are dumb and stupid. He didn't factor in the overall performance of the system. Refer to my posted PS3 RSX shader example in relation to instruction pairing.
And all of that is only considering the hardware side. The whole argument breaks down on the software level anyway - software these days is so much more complicated that you don't want to think about the hardware while writing it (to such an extent as is possible). You don't want to think about the endianness of your processor, the type of harddisk controller you are interfacing with, etc, etc.
You only want that level of control when absolutely needed and not as a basic requirement to write software. You don't want all that added headache when you are writing your enterprise-class ERP product or multi-gigabyte multimedia program (something like, say, World of Warcraft). This is the real reason API's are such a good thing and it's one that is being completely glossed over.
In terms of computation intensity, Geforce 9400 IGP kills Core 2 Quad using the same memory bus.
Indeed, though I will add that the average GPU is not in all situations a good CPU (even though you can run code on them). The reverse is, however, never true. Even a really fast CPU is still not going to beat a GPU at its tasks.
And it doesn't change anything about my statement, really (except maybe the bit about GPU access). If main RAM is too slow for your CPU that means your CPU is not going to be computation limited but IO limited instead. Let alone how many wait states you'd introduce by getting data of a stupendously slow thing like a harddisk or even worse, a USB mouse.
Lucky us programming evolved beyond polling until it's done in most cases and, wisely, this is only done these days when it can't be helped (or you have a bad programmer

).