Yes, it has gotten radically better in the last year or two, combination of Pi 3 hardware being quad core and much faster, and the RetroPie project iterating and improving rapidly.
Geekbench 2.4.2 results, Pi3 on left, Pi2 on right:
Overall 2086 / 1302 Integer 1641 / 998 Floating point 3353 / 2126 Memory 1204 / 729 Stream 978 / 631
Sunspider results, same arrangement:
2888 ms / 4705 ms
Not 2x faster, but pretty close! It's also quad core, though the above benchmarks, particularly sunspider, are absolutely single thread / core perf.