no, like it has been said MANY times over, you can not directly compare the two architectures at face value.
theoretically though, the Cell chip is a little bit faster but it is not as ideal for game development like the xenon chip in the 360 is.
IMHO, in the end its all a wash where there isnt one thing that one system can do that the other can not.
if a game was strictly developed around multiple SPEs then yes the ps3 would have the advantage but the disadvantage may come into place when a game was designed for the 360 first. this doesnt mean that the ps3 would not be able to keep up but it would take some work and vice versa.
P.S. i posted this pdf at another thread