Yes but what you said was " H is noT faster then 3G" in which H is Faster then 3G seeing as 3G uses 3.5mb/s and H uses 7.2mb/s. Tech savvy people would say the same anyways. Yes my HTC magic had H and the speeds were more faster then my iPhone 3G.
I've checked on a friend's Android phone on Bell network and it also displays the '3G' icon when no data is transferring. What's important is that the 'H' icon is displayed when data is transferring over the network.
So, if someone has a Galaxy Nexus (with stock Android ROM) and it's always displaying the 'H' icon, it means that data is transferring over the network all the time (probably because a rogue app) and it's definitely killing the battery life of the device for nothing.