Most likely it will be more powerful. In real world usage it will probably feel the same though.
There won't be any apps available in the next 2 years that the GS3 won't be able to handle, so more hp isn't going to do much other than for bragging rights.
If you want an even bigger screen, the note 2 is a pretty easy choice. If you just want higher quadrant scores, meh.
-Suntan