I have been asked recently to produced the MIPS (million of instructions per second) for an algorithm we have developed. The algorithm is exposed by a set of C-style functions.
For a first estimate a benchmark on the PC may be useful.
However, before you commit to a specific device and clock frequency you should get a developer board (or some PDA?) for the ARM target architecture and benchmark it there.
There are a lot of factors influencing the speed on today's machines (caching, pipelines, different instruction sets, ...) so your benchmarks on a PC may be way off w.r.t. the ARM.