Peg2 is absolutely better because it is faster.
Interestingly in the linked Hollywood benchmark the Pegasos II numbers outperform the Sam460 only if the Peg is running MorphOS. With OS 4.x it is surprising slow (not even half the speed as compared to the MorphOS values on the same machine). Seems there's something wrong with OS4.1 on the Pegasos (or w/ Hollywood & OS4 in general).
Anyway, PegII still the best choice, since it offers most options and has the most powerful cpu of all OS4 systems available today.