You're high if you think ARM can do general processing with the power that x86 has.
Go ahead and run a real app on one core of x86 and that pitiful arm chip. Guess what is going to happen? Synthetic benchmarks are more useless than ever.
Depends on the task. If most of the application's instructions are simple integer math operations for data and addresses, an ARM CPU will do pretty well because both x86 and ARM architectures will execute instructions like this in a single cycle. The time when this becomes a difference is when you start considering the more complex instructions offered by CISC instruction set CPUs like x86. Extensions like SSEx where introduced to do what would normally take several clock cycles and reduces it to only a handful if not a single cycle. However, that comes at a cost. It requires more circuity and transistors to have the extra logic to do these more complex instructions quickly. The result is higher manufacturing costs and higher power consumption but, on the other hand you can get significantly improved performance depending on the application.
So I won't say that ARM is crap compared to x86 because, it depends on what you're doing. If you're using a browser, reading/writing email, or playing a simple game like Angry Birds, an ARM CPU is more than enough. However, if you're doing video encoding, physics processing, or really any floating point math application, you're better off with something that can do a little more in a little less time but, that only helps you if you have the power to spare.
I just thought that a more balanced perspective on the matter was required because neither architectures are bad, it's just that they were designed with different things in mind under different philosophies.
To add to that, x86 is designed for larger platforms like server, desktop, laptops.
Arm is mobile platform specific as of now. So the requirements and there for the capacity varies. Intel's x86 mobile processors which are being used in ASUS ZenFone series which I m using, are great performers but at the cost of higher power consumtion. I had to implement tonnes of tweaks to get a steady 10 hour continuous usage from it from 100% to 0%.
That its self says a lot.
Not exactly.. comparing ARM to x86 is hard, because of how easy it is to build a custom ARM SoC vs an x86 SoC, so really, you need to be comparing them in each segment they're in.
Server:
In serverland, you're mostly limited by whether or not you can scale horizontally (as far as CPUs go). If you can scale horizontally, the ARM chips are competitive with x86 in terms of overall/total cost, because what you trade in in terms of per-CPU performance, you regain back in terms of being able to fit more machines in the same space (a high-end ARM SoC fits in about the same sort of space a RasPi takes, while Atom, for all it's low-power-ness, still needs about twice as much space).
The result is that some companies, like Linode, are using ARM chips for their low-power use cases, and others, like Google and Facebook, are considering ARM alongside POWER.
Desktop:
ARM hasn't had a desktop chip since the original Acorn RISC machines. Still, as far as basic browser/productivity/media use goes, something like the Shield microconsole or RasPi 2 running a better OS than Android do OK. Not amazing (mostly because of limited RAM), but OK.
Laptop:
ARM Chromebooks do about as well as low-end x86 chromebooks, but very few use high-end SoCs like Tegra K1/X1, so they lose out to their x86 brethren. Linux users also have fun with it, but in the end, nothing really beats a proper high-end Windows laptop (Like an XPS13 for example) running Linux.
Phones & Tablets:
In the phone and tablet arena, x86 has mostly been hampered by overall platform power and complexity, not performance. If you look at the landscape, one company stands above all the others: Qualcomm. Qualcomm has such a position because of their ability to pack the CPU, GPU, DSPs, ISP, modem, wifi, bluetooth, GPS all into the same die, then strap the RAM on top of the same package. This makes the board design really, really simple, since all you have to do is wire up the sensors (camera, accelerometer, gyro, barometer, temperature), radio frontends, PMIC, screen, digitizer and you're done. On x86, as of right now, you have to put on the CPU/RAM package, then wire up the various wireless interfaces (cellular, GPS, and wifi/BT) to the SoC. With 3 more extra fairly hefty chips to put on the board, things get expensive and raises idle battery usage a fair chunk. This is why the ZenFone 2 is the only phone using x86, and it shows compared to Qcomm. Other companies (MediaTek) also have more integrated stuff, similar to Qcomm.
As for the CISC/RISC argument.. that argument sailed a loooong time ago, around when IBM (POWER), Intel (Pentium Pro/II) and ARM (ARM8/ARMv4 I think, because of their use of speculative processing.. arguably even ARM7T/ARMv4T because of it's pipelining) went Out-of-Order/speculative/superscalar because they all decode the instructions into micro-ops and are no longer run directly. The myth kinda lived on for a while though, because Intel was, well, kinda crap at platform design compared to IBM - most of their CPUs, up until the P4 and Nehalem jumps really, were memory-starved by the FSB, and had higher power consumption than the POWER cores, which is a RISC core. That all changed when Apple replaced the hot-running PowerPC 970/G5 (POWER4) with cool-running Core chips, so much that nobody cares about RISC vs CISC anymore outside of people writing raw assembly, and even then, only for ease of use arguments, not performance.
EDIT: On the subject of pipelining: longer pipelines (i.e more stages, iirc SNB-SKL is 11-14 depending on instruction, Bulldozer is 31) let you achieve higher clockspeeds, but the longer the pipeline, the worse the penalty of a pipeline stall (from a branch mispredict causing a flush, for example). The problem with a long pipeline lies in the stall penalty just going up somewhat exponentially, as Intel learnt with NetBurst, and AMD through Bulldozer (though the pipeline length isn't as dominating an issue there as it was with NetBurst...).