Apple A5 is dual Cortex A9, PowerVR SGX 543MP2
While Apple believes the mainstream cares more about iPad 2 experience and feeling than feeds and speeds, Anandtech clearly favors the latter and using an array of tests, they claim they've deduced that -- as suspected -- the Apple A5 system-on-a-chip is indeed powered by an ARM Cortex A9 CPU and Imagination PowerVR SGX 543MP2 GPU. It's also fast, beating out not only the 2010 iPad's A4 but the 2011 Motorola Zoom's Tegra 2 in a number of benchmark tests.
In other words, Apple may have changed the specs into an experience fight, but they're more than got the SoC specs to make that experience.
(Can't wait for this to come to iPhone 5, can you?)