Err, no.
"Next-generation dual-core 1.2GHz or 1.5GHz CPU"
"The 5-megapixel camera, however, is said to be an advanced 5-megapixel sensor delivering class-leading image quality in addition to superior low-light performance"
Better sensor also means better video quality.
SGS2 also has terrible mono sound recording.
It's also designed around Android 4.0 with no hardware buttons.
Anyway, this is a rumour so subject to change. Hopefully it's better than it sounds.
Please let it have a friggin notification light and great sound quality (which Android phones often lack, including the SGS2 which actually has a worse sound processor than the SGS).