Yes, AMD's rating against pre-Northwood P4's is hardly fair to Intel. However, the Northwood wasn't released until the 2.26GHz model was available. By then, AMD's rating scale had been around for more than a year.
So, you can't say that AMD wasn't targeting the Williamette models. It's obvious they were. They knew that the 1700+ model was actually performing closer to the P4 1.9GHz model. It was to their advantage to slap on a 1700+ rating rather than 1900+, because it allows for more headroom to compete with future CPU speeds.
However, that headroom is gone and now AMD's rating is over-agressive. Their new 3200+ Athlon, for example, barely competes with the P4 3.06GHz and would be better paired up against the P4 2.8GHz model.
~cdogg
"The secret to creativity is knowing how to hide your sources."
- A. Einstein