All x86 processors are CISC designs but if you look at a low enough level they break instructions down into RISC like micro-operations. CISC designers have learnt a lot over the years and have borrowed some good ideas that have allowed them to close the gap somewhat.
A big part of why the new iMacs appear so much faster than the iMac G5 is that they use dual core processors. For many tasks, especially those that only run on a single processor the speed improvement is only 10% - 25% according to MacWorld's benchmarks
http://www.macworld.com/2006/01/features/imaclabtest1/index.php
What gains people will actually see with the new machines depends on the kind of work they are doing.
Remember that benchmarks don't tell the whole story. They really only show performance in a single, specific, situation. Lies, ****** lies and benchmarks, etc.