I'd say its about on par. Which is better depends on the problem your trying to solve. Sure, Java adds some nice features, like garbage collection and potential compile-once-run-elsewhere and a bunch of other things, but C++ has its advantages either. Heres a small few:
C++ can have much better startup time. While I no longer buy into the speed thing (the JVM has become quite fast), I still find Java mesurably slow while starting up. So much, in fact, that projects like NailGun were started to improve things.
I hear Java's floating point hurts everyone everywhere: http://www.eecs.berkeley.edu/~wkahan/JAVAhurt.pdf
C++ supports unsigned arithmetic, Java doesn't.
Javas generics use type erasure.
Checked exceptions in Java are a bad idea.
C++ allows tight OS integration.
And so on. While I'll be the first to admit that C++ is far from perfect, I also don't buy that Java improves it. One is better sometimes, the other is better other times, both are terrible in other situations again. I prefer C++ in more cases than I prefer Java, hence my comment.
But.. maybe I missed the point of the comment I replied to, since memory management in Java might really be an improvement over C++.