Yeah I have to agree. The X-Box 360 is better than your PC.
Like Alvino says though, IBM CPU's run slightly differently, but yes, it has 3 cores...all running at 3.5GHZ... you've got to admit thats fast
I'm not sure in terms of power though, that this equals 9.5GHZ... because I'm sure it doesn't since they won't work all together like that.
Though it has the processing power in terms of Terraflops of 1!
Now imagine when the the PS3 comes out (I don't hold a grudge against any of them), that'll have double the processing power than the X-Box 360 (2 terraflops), and slightly better graphics too by 50mhz in terms of speed.
Though I have to say that your RAM is more than the X-Box 360 has. This is the problem with consoles, they never have enough, though you have to remember that they are to run games, and so, there won't be as much applications running in the background, or a Windows GUI to run either.