Yeah, they have pace. For now. So why are they barely leading the drivers championship with Webber and losing out to the McLarens in the Constructors?
You must remember that McLaren have 2 top notch drivers, who are also the 2009 and 2008 World Champs.
RedBull have no world champions on board.
Basically we have:
Fastest car + decent drivers VS Slower car + better drivers (world champions)
The Constructors is race is separated by 1 point (so its basically a tie).
Had RedBull had higher quality drivers, then they would almost certainly be leading. Another point is that Mark Webber has definitely upped his game. I think he is driving better than he has ever driven in his career and this is now allowing RedBull to get into the position to get the 1-2.