I own a Mac, and follow Mac stuff. But...
No question, the dual Opterons 248s are generally faster than the dual 2.0 G5. Plus, Apple does not have a real 64-bit OS at this point. I think there is a beta 64-bit Linux out there for the Power Mac G5 somewhere, but Mac OS X doesn't support more than 4 GB memory addressing per app. (The OS will see up to 16 GB on current hardware however.)
Furthermore, Opterons have on-board memory controllers, and G5s do not. Thus, dual Opterons will have more total memory bandwidth that dual G5s. One help to the dual G5s though is they do run DDR400 dual-channel, so it is pretty good. No ECC support on the dual G5 Power Macs, but that is supported on the G5 Xserves.
Benchmarks? It really depends. For certain benchmarks, the dual Opterons wipe the floor with the Mac. For other benchmarks the dual G5 Power Mac will wipe the floor with the dual Opterons (even though on average the dual Opterons will be faster).
Now, if Apple introduces dual G5 2.5 Power Macs soon, then the comparison will be much harder, since the 2.5 GHz G5 will be close the the Opteron 248 in overall speed, or possibly slightly faster. However, while IBM has already announced the 2.5 GHz G5, who knows when Apple will be able to ship them?
And of course, it really depends on what software you'll be running. Who cares how fast the Opterons are if you want to run Apple's Final Cut Pro? And who cares how fast the G5s are if you want to run IBM's DB2?