It seems odd, considering my ancient Sony had 2.53. Is 2.20 really standard for nowadays? Also, it has an GeForce 760M graphics card.
In general, the more modern a chip, the better it is...a 2.2 GHz chip today is going to be better than a 2.2 GHz chip from 5 years ago....how much is hard to say but don't think modern chips are slower just because they seem to have slower speeds...
You also have to consider the number of cores...most nearly all of the newer intel chips have 4 cores (some more) while your current processor has only 2 cores...it depends on what exactly you are doing, but in general a 2.2 GHz quad core is going to be better than a 2.53 GHz dual core (even if both were of the same generation)...you could think of it as 2.2 GHz x 4 cores = 8.8 awesomeness vs. 2.53 GHz x 2 cores = 5.06 awesomeness....it doesn't quite work out like that but you get the point...
As far as I can tell, you are better off with the Asus...some programs are single-threaded (SoaSE is an example) and in those cases the speed of an individual core (2.53 vs. 2.2) is very important (since the game can only use one)...if you are into gaming, you probably still have games that are single-threaded and thus benefit from higher speeds per core...
Another huge advantage of the Asus is the cooling system...I cannot stress how important that is to the longevity and performance of your computer...hot processors don't run as well and continually running hot hurts their longevity...if you want to get a very nice 4 years out of your computer, that Asus will still be running well while the other computer won't probably run nearly as well as it did the day you got it...
A GTX 670M, in my opinion, is more than good enough....having the better cooling system and faster processor is going to trump the slightly better 760M card...that faster processor lengthens the time that your computer is still exceeding requirements for new games/programs and the cooling system extends the longevity...it'll cost more but you should be able to then wait longer before buying a new computer...