Playing 3d games at these specs:

[Carter07]

Cortex A7 is a little less powerful than cortex A9 clock by clock so perf should be similar to A9@1,0ghz, quad core doesn't make a difference in ppsspp (but dual will in the future).
Gpu is quite good and will not be a bottleneck when the alpha test optimizations will be done.

Right now there are some 3d games that you can run full speed but the large majority won't. Expect this number to grow as the development progresses.