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It should be more than twice as fast when you are using applications that take advantage of both processor cores on the new machine.
Even applications that use one core will still be somewhat faster than your current G5, though not by such a spectacular margin.
I used to own a dual 2.0Ghz G5 tower. I replaced it with a 2.16ghz 20" iMac, and the iMac is faster and better in every way. In fact, in some tasks my iMac is as fast as a dual 2.7Ghz G5 tower.
Having said that, at the moment I would hold of on buying an iMac, as within the next few months it may well be updated, and although a current 20" iMac will be faster than your G5 model, the other features such as the iSight and the screen are going to be exactly the same, so perhaps it won't feel like much of an upgrade to you.
Oh.. just realised you have a macbook pro. I'd imagine that should give you a feel for the intel iMac, as the intel iMac has the internals of a laptop, except for the screen and harddisk.
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