It all depend on the model of the processor you are considering buying. For instance, the i7-720QM is 1.6 ghz, and a atom n450 is also 1.6 ghz, but the i7 is a quad core ( 1.6 ghz x4 = 6.4ghz) so in quadruples the clock speed. Also the i7 has more cache, so if would speed up a pc's performance generally speaking.
So we would need more info on the cpu's you are compering.
edit: forgot to say that the i7 has turbo-boost, so that's 2.8 *4 = 11.2