Raw MHz rating isn't the only thing that is needed to figure this out. A 3GHz processor is not exactly 91.9x faster than a 33MHz 386 - it's more than that. There's optimizations, like MMX, SSE, SSE2, and hyperthreading, among others.
With a simple operation like that, written in assembly code, it probably would fit in the CPU's cache, but I don't think it would stay there for long. Also, there would need to be some kind of operating system running, which would also want the processor's attention, and its precious cache space.