> I'd be willing to bet its clocked slower.

Yes, according to the Wikipedia page linked to above, the RV360 is clocked at 450 MHz in the Mobility 9700 and between 500 and 525 MHz in the 9600XT.
For clarification on the topic of transparency: Have I understood you right that you tried the same thing (i.e. running Lucy) on your R360 as Fraggle did on his RV360 in that other thread, but can't confirm his bad experience reported there?