still wrong im afraid.
it doesnt have 48 traditional pipelines, it has 16 traditional ones, but each one contains 3 pixel shader units. so basicly, it only has 16 pipes but each pipe can handle up to 3 times more shaders then the 1800xt.
edit: think of it as a boat. the 1800xt is a normal boat. but the 1900xt is the same hull, same engine, but 3 propellors. it'll move more water, thus beeing a bit faster, but the engine and the hull (water resistance) still limit the boat. thus, its not as fast as having 3 enignes, a more efficient hull and 3 props, 1 for each engine.
yeah i know, weird, but the best i could come up with.