This depends on the video editing software. And it depends on the drives. I can get either CPU selection the edge by boosting it with better hard disk systems or changing software on one but not the other.

I'm guessing the Xeon is a newer system than the older C2Q Q9550 so the newer chipset should give it the edge as well.

In the end, the benchmark matters.

PS. Yes I have had both types in the past and still have 2 C2Q systems in the office.