I don't know if it's feasible to compare sieving to P-1 factoring. Sieving eliminates tests they may be assigned in the future (some of them years away), whereas factoring *can* eliminate current tests. So a prime wouldn't affect the factoring as hard as it does with sieving.
IMHO, we should directly compare the time t it takes to do a factoring divided by the likelihood p a factor is found against the time it takes to do a PRP test (and at least part of the double sieve effort).
My systems (P3-m 1GHz, Duron 900) need ~6 hours for P-1 factoring with an estimated chance of 2.13% of finding a factor (B1=80,000; B2=440,000).
Without double check, a PRP test may take almost 12 days (24/7) to get there. When we fully consider the double test, it'll be ~6 days.
Unfortunately I don't know how long it takes for them to compute a current PRP test, but I guess someone else does.
One further question:
Does the computation time for P-1 factoring increases with bigger n? If yes (which I assume), hwo does it compare to the effort increase of PRP testing?