Not really, I would say it is very close, nowhere near "domination" though.
Sensation has higher resolution screen, Faster CPU (Benchmarks), Better/Stronger build quality and a greater default UI.
S2 has slightly more RAM, and a higher amount of "built in" storage. It is debated that its screen is better.
The pros and cons of both at the end of the day will come down to personal preference are a very small.
I have placed a pre order for the Sensation.