SOHC is geting a little dated and Honda is moving, with their new 1.8L 4 cylinders in the 2006 civics, to using DOHC. VTEC is simply a change in the cam timing and lift, allowing you to get some more power in the upper rev range.
It allows for something like this:
0-5,500RPM: Cam has a more retarded timing and lower lift. This allows higher fuel economy and less emissions, but with less power.
~5,500RPM-Redline: Cam changes over to a more aggrssive timing and lift, allowing for freer engine breathing and more power, at the expense of fuel economy and emissions.
Basically, VTEC/VVTI, etc... Is an attempt to meld the fuel efficiencies of a economy-tuned engine at low RPMs, but once you get into the throttle and pass a certain RPM, you see the advantages of a more performance-oriented engine.
If you're comparing a SOHC VTEC engine a regualr SOHC/DOHC engine, then it depends on the engine build... An engine that is built with just a performance cam and aggressive timing will be faster. A VTEC engine doesn't 'get on the cam' until high in the rev range... It would make a faster engine, obviosuly, if it was on teh performance cam all the time...
If you're serious about performance, you can always buy a VTEC controller for ~$500 and lower the vtec activation point to like 3,500 rpm... But that's not a huge gain.
If you like a fast engine, you want an eingine built that way. VTEC simply allows great fuel eocnomy and a bit of power on teh top end when it's needed.