Sgolds, The average Celeron purchases does not know that the Celeron runs significantly slower than the equivalent P4. Intel has been cynically fooling these folks for years.
That's debatable, depending on whether you focus on the "two-drink minimum" marketing reps or the savvy of the average consumer. Personally, I think most people either know that Celeron is slower at the same clock speed than Pentium, or is told that by the sales rep at Circuit City/Best Buy/Fry's/Costco. (Well OK, maybe not Costco.)
Anyway, Morrowinder says it best. Frequency is frequency, and clock speed is clock speed.
Tenchu