Hey Barefeats,
Can you monitor the clock speed of the GPU when you are doing your tests?
I know I've used some terminal commands in the past that allow you to hook into the graphics driver to pull the clock speed settings. There is a GUI packaged up as well, just not sure if it works with the Air.
http://www.groths.org/?p=207
Would be nice to prove / disprove the theory of the GPU clockdown. Of all devices, I would suspect the Air 320m to clockdown before the MBP.
I used Zeus to monitor the GPU clock speed while running a 7 min replay on Starcraft II. The 13" MBP maintained a steady 750MHz. Ditto for the 13" MBA. So that doesn't explain why the 13" MBA beats it.