Hardware will always outperform a software solution. To be honest I've not gone into a whole lot of depth with the chip because that has always seemed like further off play than the app, but strictly from a technical point of view I will tell you what i can.
There are many instances in the technology world where a new low powered single use chip will significantly out perform a CPU or APU. One of the most recent hings that come to mind is in fingerprint scanners on phones. In the first few iterations the calculations were handled by the APU. Even on the flagship phones of the time they found they had to weaken the algorithms etc as the calculations were lagging up the devices to much. Now the APU on these devices were around a Ghz at the time which is pretty fast, and to get faster you would generating more heat and killing battery etc. so they introduced a 30Mhz (from memory) chip thats sole purpose was for fingerprint recognition, has its own little storage etc. Now even on significantly slower phones, thanks to that chip, fingerprint recognition works without a lag.
So we could see significant improvement from a minor addition to a handset and it is definitely not something that is unheard of. However, depending on the requirements on the other end, ie do you need a wangle subscription for it to work? Then it may be a tough sell to a manufacturer.
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