Barefeats has compared the gaming performances of the MacBook to those of: the 15" and 17" MacBook Pro, a Radeon 9700 Powerbook and Radeon 9550 14" iBook.
Quite unsurprisingly, the MacBook Pro and the PowerBook kick the shit out of the the Macbook. But so do - of course to a lesser extent - the iBook and its age-old GPU.
It's really a pity: had it had a dedicated video card, the MacBook would be the dream laptop instead of the "only" excellent one it nevertheless is.
[Update]: the benchmarks have been removed from the website. It seems the MacBook used for the tests had a problem, thus inducing a bias in the results.