We're talking about full theoretical performance, independent of graphical technologies added over the time. The OP purpose is to "make HD 4600 the GPU king", No?
I get where you're going with that, but what we're finding is that unfortunately we can't directly use those comparisons. Old games like Quake3 basically stress the pixel and texture performance of a pipeline and nothing more, while most of the advancements and transistor budgets in GPU technology over the last 5 years has been on the shading performance and programability side of things. That's why Balla's overclocked HD4600 is almost as fast as my Geforce 285 in Quake 3, because pixel/texture performance hasn't changed a whole lot outside of improved clockspeeds, but realworld performance is nowhere near that.
Case in point, I played Quake 3 for a half hour last night just for old time's sake, and my GPU never went above 50C. If I play Planetside 2 for 30 minutes, it'll rise to 90C in no time. That's why I proposed HL2 as a more accurate comparison, because at least the engine makes hardware calls that will utilize 100% of the GPU of both eras.
I think if we actually started benchmarking Q3 with newer cards, what we'd see is a relative plateauing of framerate not consistent with real world performance. It's only now that 4k is being pushed that we'll start actually seeing improvements in the pixel performance side of things.