I think Anand himself established not long ago, in an extensive, exhaustive article called "Prescott Arrives With Luggage," that the Prescott's 31-stage pipeline actually hinders performance (compared to a Northwood P4) until the clock speed hits at least 3.6 GHz and beyond. There may, I suppose, be some obscure media encoding application or two that might perform a tick or two better with a 2.4 GHz Prescott, but I'm not aware of any. What Psych said is right on the money.
Duvie might be able to expound on this a bit if he sees this topic, but I don't think there's much else that needs to be said. (Except for the overclocking consideration -- I'm not an o/c'er, so I can't comment on that aspect of the comparison.)