Yes, XHVI is superior to most other Group III base oils. The reason is how XHVI is made. Regular Group III base oil is made from hydrocracking and isodewaxing the VGO (vacuum gas oil) from the crude oil distiller. This VGO is the "feedstock" for regular Group III. The undersirable elements of the VGO are "cracked" using a catalyst under high heat and pressure in the presence of hyrdrogen, coverting them to saturated parrafin molecules (the good stuff in any hydrocarbon base oil). The resideual wax molecules in the VGO are isomerized into fully saturated parrafin molecules. The result is an almost pure, fully saturated base oil with a VI of around 120-130.
XHVI (as well as ExxonMobil's ExxSyn) are pure wax isomerates. The feedstock used to make them is not the VGO from the distiller, it is either (1) slack wax, or (2) waxy raffinate. "Slack wax" is basically just what the name implies: it's pure parrafinic wax, about the consistency of Vasoline. It is the byproduct of solvent dewaxing the VGO in the production of Group I and some Group II base oils. "Waxy raffinate" is also a wax byproduct of the refining process used to produce diesel and fuel oil. Waxy raffinate can also be produced synthetically, which is what Shell is doing now using their new GTL (gas to liquid) technology.
To produce XHVI, either of these wax feedstocks are isomerized into a pure, fully saturated paraffinic base oil with a VI of more than 140 and a pour point that is about 10-15 degrees lower than regular Group III. This is the primary benefit of XHVI (or other wax isomerate) over regular Group III: it has a higher VI and lower pour point, as well as being a more chemically pure base oil. When it comes to Group IIIs, XHVI or ExxSyn come the closest to matching the performance levels of PAO.