you're right, if you're not overclocking the 3.06ghz p4 has the edge over the amd 3200+ at 2.20ghz, at almost the same cost. But let's ignore this blunder of PR rating by amd for a moment.
Let's compare the typical oc results.
p4 800mhz 2.4C typical oc on air - 3.3ghz
reference link
http://forum.oc-forums.com/vb/poll.php?s=&action=showresults&pollid=195
1700+ dlt3c tbred b typical oc on air - 2.5ghz
reference link
http://www.amdforums.com/showthread.php?s=&threadid=230287
so its 3.3g for the p4 vs 2.5g for the xp.
The benchmark results for the 3200+ vs the 3.06g p4 are: (choosing one gaming bench and one non-gaming bench - depending on which among the 20 benches you choose you could make either cpu look superior but I think its fair to do a 50/50 split of gaming/non-gaming)
ut2k3: p4 wins by 3%
sysmark: p4 wins by 9%
average 6%
reference link
http://www.tomshardware.com/cpu/20030513/athlon_xp-11.html
from this we conclude that the 3.06g p4 is 6% faster than the 2.2g barton, or that they would be equal if their mhz ratio was:
3.06/2.2/1.06 = 1.31
Taking the above numbers of 2.5g for the xp oc and 3.3g for the p4 oc, that's a ratio of:
3.3/2.5 = 1.32.
Which makes it about a tie between an oc'd P4 and an oc'd xp. Maybe that's why the fans of each think they're faster.
Cost of p4 to get to 3.3g oc: $180 for p4 2.4C
Cost of xp to get to 2.5g oc: $60 for 1700+ dlt3c
So we end up where we've been for the last several years, with amd and intel having roughly the same performance, with a price advantage going to amd. Don't think that price advantage has ever been 3:1 though.