In terms of CPU, yes. In terms of GPU, not at all: a 133MHz DMP nearly seems excessive compared to a single 266MHz ARM11 (if we assume the second one won't be available to devs, but who knows) - so the one thing you can expect not to see is complex physics or AI. Not a huge deal in Nintendo's market I'd argue, but disappointing indeed.
It really sounds unreasonable. I'd take dual 533MHz ARM11 easily, or even single ~500MHz Cortex A5 with NEON. Or at least having some dedicated hardware for vector processing, like Broadcom's BCM2727 in Nokia N8.
With this kind of hardware, we just know the 3DS games are condemned to scripted physics, AI and even low-quality sound music/effects (please, no more midi sound, really.. it's enough) during their whole lifetime (until 2016?).
The console is coming at the same time as dual-~1GHz A9 smartphones hit the market.. I just can't believe they think they can pull another "it's okay 'cause we're creative" on us, with 5 year-old hardware.
And when is that exactly?
When? How about 3 months ago?
http://www.gsmarena.com/samsung_w960_amoled_3d-3319.php
http://www.youtube.com/watch?v=JRK4DVkdao4&feature=related
It's the same parallax barrier system as the 3DS, same resolution, but in AMOLED flavour (not that a short-lived AMOLED screen should be in a console, though).
I'd be very surprised if even the 2012 or 2013 iPhones had a 3D display. And there's nothing that prevents Nintendo from refreshing the HW significantly 3-4 years later as long as they maintain backwards compatibility, but we'll see.
Probably not Apple phones, they've always been late at adopting all the trends they don't start.
I do see Android, Symbian and MeeGo releasing official support for stereoscopic view and even stereoscopic versions of their UIs in less than 2 years.