@spazicle: I can only explain this to you; I can't understand it for you....
Resolution and framerate are insufficient to describe the true power of a console. Fanboys think it is, but that's where their understanding ends. If most of those pixels don't change (like in Pong), then the necessary compute power isn't all that high. But in modern day games where all the pixels are changing rapidly, then the necessary computer power is high. Same resolution, same framerate, very different hardware.
It's a lot like the horsepower value of an engine. True gearheads know that torque is the real number you want to know. Horsepower is just a calculated value.
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