Does the font rendering seem very different to anyone else? Using the same font (Anonymous Pro 14pt), I had to increase the vertical spacing from 1.0 (as it was in iTerm) to ~1.18 to get the same spacing. Bold is rendered differently (worse) too. It does seem quite a bit snappier on my old G5 though.
Off-topic: Something interesting about the aesthetics of text to point out here. I had to double-take which you said was left and which was right. I was sure that you were saying the left was iTerm2, because to me the one on the right has clearly superior text rendering (especially the bold)!
Comparison shot: iTerm on the left, iterm2 on right: http://i.imgur.com/9yA8y.png