Qualcomm's PowerVR license is for display IP, not graphics.
With the CPU clocked at 1.5 GHz on that Transformer TF202, the GPU clocks are probably at or close to their production level. Maybe the drivers will improve before it hits the market; the Tegra 3 TF201 upped its score a decent amount from its early appearance on the benchmark.
The T3 Lenovo LePad K2 is at 1920*1152 at 22.7 fps in Egypt standard while the Transformer Prime TF202 1920*1128 is at 21.1 fps. I know it's easier to compare with 720p offscreen, but if the default display resolution is nearly at 1080p a comparison at that resolution has its value too. T30 might strangle with bandwidth here.
http://www.glbenchmark.com/compare.jsp?benchmark=glpro21&showhide=true&certified_only=1&D1=Asus%20Eee%20Pad%20Transformer%20Prime%20TF202&D2=Lenovo%20LePad%20K2
As a reminder ULP GF in T30 is clocked at 520MHz and I doubt that Adreno225 is clocked over 400MHz; besides AP30 smartphones will clock at 416MHz. It'll be interesting to see how a Krait@1.5GHz fares with a 8 ALU Adreno.