PowerBook G4 550 vs iBook 600

No, you're not.

The advantage of the Altivec lies in the repetition of the same algorithm over and over again, only there the Altivec brings you speed increase over the G3.
If, for example, you would perform 10.000 different floating point operations, the Altivec would be of nearly no help. In case of Fractals, you do exactly the same operation for every pixel on the fractal, so where the G3 at the same clockspeed would calculate one pixel, the G4 would be able to translate this calculation to four pixels.

To put it simple, the Altivec can do one calculation four times in the same time as the G3 does this one calculation. But it can't perform four different calculations, it has to be the same!
 
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