The laptop appears to be much slower. Appearances are deceptive here: it's a pentium M, which is much more efficient than a normal pentium 4. Typically, if you want to compare it's performance, you need to multiply the clock speed by 1.5 or more, depending on the type of pentium 4. You appear to have the older variant, with 533 Mhz FSB and relatively slow ram.
If the clock speeds and CPU types were identical, you'd still have a big difference in the amount of cache memory, which will give the laptop a big advantage during memory intensive tasks. It's exact advantage depends on the computer program, compiler, operating system, etc. etc. It could even give you a boost with non-repetetive data.
All in all, I'm not surprised by the good performance of that laptop.
