Emulation is the only way you're going to be able to compare performance of CELL to X rasterizer, unless you have your own custom software rasterizer that does the same things as X rasterizer. Since there is no software rasterizer running on a single cell, it all speculation.
There is MESA, it's just not optimised (fully) yet. That work seems to be underway though. IIRC, it could run Quake3 to one degree or another, using just the PPE (don't know if it was 30fps, but I guess it was reasonably 'realtime' judging from reporting).
As for the argument..I can see where you're coming from, but it's sort of like using multiplatform titles to compare system performance. The argument tends to be made here that you have to really look at the bespoke titles on each platform to do that, and I tend to subscribe to that argument myself. It also opens the question of having a GPU emulate a Cell renderer rather than the other way around and compare that performance too..