The nvidia seems like the older card there, so i'd have to say it's the slowest of the two.
In terms of raw performance, the NVidia chip might be able to pull out more performance. Also, take note that the NVidia chip can be overclocked since it is a desktop type (the ATI Graphics card can also be overclocked, but has a higher risk of overheating due to the fact that it is a mobile GPU AND it's in a laptop).
Age has nothing to do with it.
The Nvida isn't vastly quicker, and clocking it would only gain 3% or so which on a low end card isn't a lot. You're basically looking at gaining 1 or 2fps for clocking it at best.