You compare with a generational improvement for like products, that's the only way it can work properly.
We just have to assume Zen is expected to have a 40% average higher IPC for any given SKU, there's really no alternative.
A great example of an improper comparison is the IPC between the FX-4300 and a Steamroller APU. You can't do this without first accounting for the difference in supporting infrastructure (namely the lack of L3 cache in all Steamroller implementations). Steamroller averages about a 6.7% IPC improvement if you take that into account (by comparing APU to APU), but has no improvement at all (and sometimes backtracks) if you don't.
For Excavator, we have to compare the mobile Steamroller chips. The average improvement here is a more healthy 9.85%.
If we track all the AMD construction core performance from Bulldozer onward, we have the following:
Code:
Bulldozer: 100% (abysmal IPC)
Piledriver: 109% (~10% lower IPC than K10)
Steamroller: 116% (near-parity with K10)
Excavator: 128% (parity with Penryn (Core 2), finally!)
Zen (est): 179% (near-parity with Haswell)
Average IPC, of course, doesn't tell the whole story as we don't use the same applications or instruction sets as we once did and for reasons of comparison these are not always taken into account (the same exact code runs on generation after generation, new capabilities being ignored).
In the end, Zen will jump past Sandy/Ivy Bridge's IPC while including all the modern niceties... and the joys of owning an AMD platform that will likely mature far more gracefully than Intel platforms.