Processor Speed

>From the newbie zone:
I built my Linux box, with this CPU from Fry's: Athlon XP 2200+.
But when I boot, the BIOS reports "AMD 1500+"
Hey pal, that's 700 MHz short of what I paid for! :-(

So I searched around and learned how to do this: "cat /proc/cpuinfo"

This is what it says:
        processor       : 0
        vendor_id       : AuthenticAMD
        cpu family      : 6
        model           : 8
        model name      : AMD Athlon(tm) XP 1500+
        stepping        : 1
        cpu MHz         : 1344.297
        cache size      : 256 KB
        fdiv_bug        : no
        hlt_bug         : no
        f00f_bug        : no
        coma_bug        : no
        fpu             : yes
        fpu_exception   : yes
        cpuid level     : 1
        wp              : yes
        flags           : fpu vme de pse tsc msr pae mce cx8 sep mtrr
        pge mca cmov pat pse36 mmx fxsr sse syscall mmxext 3dnowext
        3dnow
        bogomips        : 2680.42

In other words, the missing 700 MHz is really "Marketing MHz" meant to
say it runs as fast as an Intel processor at 2200 MHz? Can anybody read
these tea leaves and help me understand whether I am getting everything
out of my processor? Thanks -- Craig