Of course there is. The "hello-world" microbenchmark tells you something about the core stack performance of the frameworks relative to one another. This tends to be surprisingly indicative of the relative real-world throughput per node that you may expect for a more complex application.
I.e. Rails (ruby) scores 4 times lower than Python in that micro-benchmark. This is pretty close to the difference that I've observed between real applications on the respective platforms. If anything you'll see the difference magnified in a complex application, but it's unlikely to turn around.
Whether that matters or not in the big picture is a different question (it usually doesn't).
I wouldn't say so. The bottleneck in a hello world benchmark might be a component of the framework, but in complex applications it's likely to be something else. Just look at the "Template Test with DB Query": There, Sqlite is the bottleneck, and the performance difference between Django and Rails fades into background completely.
Nope. Ruby/Python app-servers always end up CPU-bound, unless you're doing something very much out of the ordinary (such as blocking on an embedded SQLite...).
It might actually be an interesting exercise to gradually layer more features on top (such as the dispatcher chain and different templating/ORM layers) to discover inefficiencies in the various frameworks by comparing the relative performance impact.
E.g. if you involve the dispatcher and Django suddenly gets 20% slower but Rails only 10% slower then that might hint at an inefficient dispatcher-impl in Django.