Intel® Architecture Optimization Reference Manual
Page 36.
Streaming SIMD Extensions of the Pentium III Processor
The Streaming SIMD Extensions of the Pentium III processor accelerate
performance of applications over the Pentium II processors, for example,
3D graphics. The programming model is similar to the MMX? technology
model except that instructions now operate on new packed floating-point
data types, which contain four single-precision floating-point numbers.
The Streaming SIMD Extensions of the Pentium III processor introduce new
general purpose floating-point instructions, which operate on a new set of
eight
128-bit Streaming SIMD Extensions registers.
(empasis mine)
There is also a nice figure on page 38 for those who still believe that this is a typo.
So, pretty much every modern processor can produce information in "128 bit chunks" (starting from Athlon XP and Pentium III). G4 is nothing special.
As for Photoshop on machine X being faster then on machine Y, there are a *lot* of factors (memory size, memory clock rate, hard disk speed, filesystem fragmentation, software churning in background) that affect performance. If you would like to compare performance, take two systems with identical RAM and disk configuration, and make sure Photoshop has separate drive(s) just for scratch files. Ad-hoc comparisons have too many areas where things might get screwed up.