I've been testing one for a couple weeks, and a quick rundown on it: it has a quad-core A53, same CPU/SoC core as the Pi 3, with 512 MB of RAM. This means it can run 64-bit Pi OS, but it is memory-limited and even some of the benchmarks I ran needed extra swap space to complete. But for anything that does run in the 512 MB of LPDDR2 RAM, it is at least twice as fast as the Zero/Zero W, and sometimes 3-8x faster, depe…
As for the RAM limitation, zswap is a great way to get some more RAM at cost of some CPU cycles which on the new Pi won't be an issue.
zstd could be slightly slower, although according to some benchmarks, it decompresses faster.