I am not aware of any significant simulation being done on GPUs on desktops, nor the older hardware on consoles. As far as simulation goes, at present I'd give the edge to the SPE over a GPU.
The PPE as it exists is not a high point for Cell and would be replaced. The SPE is the primary driver of peak performance, but a huge chunk of that is often devoted to compensating for the GPU.
A future design could probably get decent peak performance with a design that differs from the SPE, and if there is better planning on the GPU side, the graphics portion won't need a massive amount of hand holding.
The PPE as it exists is not a high point for Cell and would be replaced. The SPE is the primary driver of peak performance, but a huge chunk of that is often devoted to compensating for the GPU.
A future design could probably get decent peak performance with a design that differs from the SPE, and if there is better planning on the GPU side, the graphics portion won't need a massive amount of hand holding.