If you're going to call it "Is Ruby Fast Yet", you should really be comparing Ruby implementations to implementations of other programming languages. Asked this way, I believe the answer to the question is a definite "no".
As a small example, I benchmarked a real Scala web app running on worse hardware (a 1GB Linux VM) at over 650 requests/s. There was no degradation in load at this rate of requests, but it was 10x the load we saw in production so I stopped there. The benchmark of Rails here goes to ~120 requests/s.
Well there is a JRuby and Rubinius comparison. Those are different implementations of the the interpreter. Ruby will never be faster than C, but this site is aiming to show the improvements over time.
Comparing across languages was originally part of the long-term goal. However, I haven't yet come across any good, multi-language, real-world benchmark.
As a small example, I benchmarked a real Scala web app running on worse hardware (a 1GB Linux VM) at over 650 requests/s. There was no degradation in load at this rate of requests, but it was 10x the load we saw in production so I stopped there. The benchmark of Rails here goes to ~120 requests/s.