If you're going to call it "Is Ruby Fast Yet", you should really be comparing Ruby implementations to implementations of other programming languages. Asked this way, I believe the answer to the question is a definite "no".

As a small example, I benchmarked a real Scala web app running on worse hardware (a 1GB Linux VM) at over 650 requests/s. There was no degradation in load at this rate of requests, but it was 10x the load we saw in production so I stopped there. The benchmark of Rails here goes to ~120 requests/s.