Agree. More transistors means more power - but any performance delta depends on the way they're used. If the CPU architecture is poorly designed and uses them ineffectively...well, you get the idea.
Not to mention that a different process can change things as well. SOI is/was very good at being efficient. It took Intel HKMG tech to show us something that was better. And both are on 45nm. Process size, transistor tech, number, etc all play a part.
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Reply to 4745454b
With more transistors the CPU architects can design a CPU that is faster or has more capabilities. But there certainly isn't a 1:1 relationship between speed and transistor count, or between number of functions and transistor count.