According to AMD, a module does 80% of the work of a dual core cpu.
http://techreport.com/articles.x/19514 <-- note this is 1 year before BD release
With that in mind, the 4XXX series is a dual module chip. Its called a quad core because its 80% compared to intel's 30% for HT.
4 cores *80% = 320% ... just over a tri-core phenom.
The other side is that when you use 2 cores in a module, you lose 20% per core performance because it is different than intel's HT. In order for the 4xxx to keep up with the phenom II, it needs 20% higher clocks. there are exceptions where the FX's new instructions help, but for the most part, the 41xx series are not and cannot be as good as the phenom II.