As an example of this, I've bought a cheap, yet well-made, Chinese tablet which features the budget Rockchip RK3066 chip and this kicks the arse of the T3 in gaming benchmarks. Perhaps not too surprising considering the RK3066 contains a quad-core Mali and 1.6Ghz dual-core A9.
The RK3066 uses what is essentially the same GPU as the Samsung Galaxy S III international version (although I'm not entirely sure about GPU clock speed). So the GPU in Tegra 3+ should perform similarly in comparison to RK3066, and of course the quad-core CPU in Tegra 3+ should perform much better in comparison, all with better battery life too. So the RK3066 tablet is a good value, but so are upcoming Tegra 3 (and Tegra 3+) low cost tablets. Basically the SoC itself only makes up a relatively small fraction of the overall cost of the tablet. The display is usually the most expensive part.
I'd hope that the successor to the Tegra 3 will offer a bit more graphical grunt than its predecessor.
I know that NVidia's plans for the Tegra series are to get them out onto the market quickly, so T2 was the first dual-core A9, and T3 was the first quad-core A9, but they are rather lacking in GPU power.
I know what you mean about wanting or desiring more GPU performance from Tegra. The thing is, NVIDIA has had to make some tradeoffs to build up some momentum in the mobile space. In the smartphone/tablet market, they do not have the luxury at the moment to release high end, middle end, and low end SKU's. They have had to focus primarily on one SKU, and create great designs based on that. With high end video cards, the situation is different. NVIDIA can release GTX 690, GTX 680, GTX 670, GTX 660, etc. to fill a wide variety of price points.
So in light of that, Tegra 3 is a remarkable success given the limitations that NVIDIA had. If NVIDIA had the luxury of designing a mobile SKU with a much larger GPU die size (such as that used on A5 or A5X), then they would be competing for the performance crown in the mobile space. Alas, NVIDIA had to make a more modest choice of GPU to give themselves a better chance of achieving market share.
For NVIDIA to keep up with the likes of PowerVR and others in the future, they will need to expand the Tegra platform to target different price points. Wayne and Grey is certainly a step in the right direction towards achieving that goal.
Another thing I should point out is that people who use smartphones and tablet computers typically only use them for casual gaming. Most of the time, people use them for internet, texting, video, movies, music, GPS, social networking, etc. So unless one is running at super high screen resolution, the Tegra 3 GPU is often more than adequate. And particularly with games optimized for the Tegra platform, the mobile gaming experience on Tegra 3 is argually second to none. Last but not least, the quad-core CPU is advantageous with internet, gaming, and some other tasks, while the fifth CPU core provides some nice benefits in terms of longer battery life.