If you dont need USB 3, the 2011 is better. Same speed, runs Snow and speedier graphics capable of medium level gaming. It only runs a little hotter, but still very silent and low power.
It's not the same speed though. The new 2012 midgrade mini is running a quad core CPU, not a dual core. It's also on Ivy Bridge, and has faster RAM. (and USB 3.0)
The real difference is no dedicated video card.
People keep getting hung up on integrated graphics. The HD 3000 and HD 4000 graphics are light years ahead of every integrated graphics that came before them, with the HD 4000 being significantly faster than the HD 3000 of just a year ago. It will be able to play games just fine. Your frame rates will not be as high as a dedicated graphics card, obviously, but it's not like we're talking about going from 40fps to 11fps because of HD 4000.
Here is a benchmark review of HD 4000 playing Windows games http://www.notebookcheck.net/Intel-HD-Graphics-4000-Benchmarked.73567.0.html
2011 mini midgrade model vs 2012 midgrade model comparison:
2011: 2.7Ghz Dual Core on Sandy Bridge
2012: 2.3Ghz Quad Core on Ivy Bridge
Level 3 Cache:
2011: 4mb shared system cache
2012: 6mb shared system cache
Don't get hung up on the clock speeds. We're talking about dual core vs quad core. The reason I bought my 2011 mini server instead of the mid-grade 2011 mini was because of the quad core vs dual core difference. The quad core cpu's eat the lunch of the dual cores.
Look at the Geekbench scores on Everymac:
2011
base 2.3Ghz Dual Core 5839/6400
midgrade 2.5Ghz Dual Core 6472/7224
midgrade upgraded cpu 2.7Ghz Dual Core 6980/7758
server 2.0Ghz Quad Core 8573/9456
The server model, despite being significantly slower clock speed, is a much faster CPU because it's Quad Core. There were a lot of posts about which one was the best to buy if you wanted the fastest 2011 mini in this forum.
My server with an SSD hit 8887 on Geekbench in the 32 bit test (the / above with the two scores is for the free 32 bit Geekbench scores vs the paid 64 bit Geekbench scores, I've never bought Geekbench)
The mid-level $2799 Macbook Retina 15" has the same 2.6Ghz Quad Core CPU as the new mini upgrade option, and the rMBP Geekbench scores are 11832/13003. I would expect a mini with an SSD to be in that same ballpark and the mini with Fusion Drive to be close to that, but a little lower (for about $1500 less).
This is a huge upgrade in the 2012 mini and if you can afford to spend the $100 CPU upgrade and either add the Fusion Drive or swap out your own SSD you'll have an even faster machine.
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