New iMac faster than my MacPro?

I've recently purchased a new 24" iMac for a 2nd home I have out west. After a few days tinkering with it I'm pretty positive that this new machine is quicker than my 2 year old MacPro that I have at home. I was hoping after looking at the specs below if people could confirm that this should be the case.
The reason I'm wondering is that I even though the iMac is brand new, the Mac Pro was and still is far more expensive than the iMac. The main reason I would like to know for sure is that since I work from home and have fairly advanced needs (two VMWare Fusion vms running on top of OSX 60+ hours a week working with important financial software), if the iMac is indeed faster I may be looking for an upgrade. Before I essentially toss my $2700 MacPro to the side though I want to make sure the lag that I notice that I don't yet see on the iMac couldn't be simply cured with an OS reinstall, which hasn't been done in over 2 years.
I'm also a little unsure of how to compare the Xeon vs the current Pentium processors, as well as how important the 1067mhz vs the 667mhz ram is to my needs. I basically run two Fusion VMs with 1gb dedicated to each one in Unity, Safari, iTunes, Mail, Adium, and Skype occasionally.
Specs for each machine..
24" iMac - 2.93ghz Intel Core 2 Duo, 4GB Ram 1067mhz, 600gb ATA HD, NVIDIA GeForce GT 120 256MB
MacPro w 30" Cinema - 2 x 2.66Ghz Dual Core Intel Xeon, 5GB Ram 667mhz, 250GB ATA HD, NVIDIA GeForce 7300 GT
All advice greatly appreciated.

I'm also a little unsure of how to compare the Xeon vs the current Pentium processors
No Intel Mac has ever had a "Pentium" inside.
The Mac Pro would be faster for applications that are designed to use multiple processors. It has 4 cores versus 2 in the iMac.
VMware Fusion has a option (in the virtual machine's settings) to use more than one +virtual processor+, but it is not as efficient booting the OS directly. Also, it probable that things like the financial software you are running on the virtual machine is itself not designed to take advantage of multiple cores. Therefore, CPU clock speed becomes the overriding factor for performance in your case. Since the new iMac runs at 2.93 GHz versus 2.66 GHz for the Mac Pro, it is certainly possible that your iMac is faster than the Mac Pro, in your situation. If you were running Final Cut Studio or Logic Studio (or other app that takes advantage of all the cores), the Mac Pro would be faster.
Also, Snow Leopard has a new technology called Grand Central Dispatch
http://www.apple.com/macosx/technology/#grandcentral
which is supposed to make use of multiple cores more efficient under Mac OS X. I don't think it will have too much impact on existing third-party software, but it will be interesting to see what the developers at VMware and other third-parties software firms can do with it. So your Mac Pro with four cores may become more efficient (faster) under Snow Leopard.

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