Stream processors are processors that share the workload on the card. If you can remember back a generation cards used pixel and vertex shader processors dedicated to their own task, but they could not do any other task. With stream processors I do believe that they can be dynamically allocated to do whatever "job" is in need.
The stream processors on the Nvidia cards run at a higher speed than the ones on the ATI cards so they cannot be directly compared, although they do offer performance in the same ballpark. Bottom line is that both cards offer great performance although in general the ATI Radeon HD 2900XT competes with the Nvidia Geforce 8800 GTS, not the GTX.