It depends on which generation of drives he's talking about. The 1st-generation Raptors had less dense platters and so their transfer rates weren't as fast as the higher-density 1TB drives, even though they spun faster. That's because they were updating the 7200RPM drives with higher density platters more often than they were updating the Raptors.
I just checked the spec sheets for the current-generation drives:
300GB Velociraptor: 126GByte/sec (spec sheet
1TB Caviar Black: 126GByte/sec (spec sheet
So for the current generation drives it's a dead heat in terms of transfer rate.