No idea on times, but here are some specs on each. xB looks like it would be faster on paper, mainly due to a 400lb weight difference...

2009 Scion xB:
http://www.edmunds.com/new/2009/scion/xb/100996739/specs.html

2008 Honda Element:
http://www.edmunds.com/new/2008/honda/element/100890732/specs.html

MotorWeek tested the 2003 Element and the 2008 Xb.  The Element turned the 1/4 mile in 16.2 sec. at 86 mph, the xB 17.3 sec. at 82 mph.

Your also comparing two different year models that are so far apart it doesn't work. You have to run the 08 09 model. Although the 08 Element is probably similar to the 03. The 09 is completely different.

Fall 2007 Consumer Reports on Cars
Honda Element auto-5 0-60mph 10.4 sec  1/4 mile 18.0sec@ 78mph
Scion xB (2008) auto-4 0-60mph 9.4sec 1/4 mile 17.3sec@81 mph

January 2008 Motor Trend
Scion xB (2008) auto-4 0-60mph 8.7sec 1/4 mile 81.8mph

Max load:
Honda Element 675 lbs
Scion xB 850 lbs
Both are five passenger vehicles...
Honda Element 675lbs divided by 5 = 135 lbs
Scion xB 850lbs divided by 5 = 170 lbs

Now the way this works I weigh 170 lbs and I have four friends that average 135 lbs....Hmmm and I want to take some beverages to the beach....Oh I better take the xB because the Element would be overloaded without the beer!

xB rules.../Brewski

Someone would hafta walk! lol!

When I was looking at cars (last month  ), a friend that recently was a Toyota mechanic and no works on Hondas STRONGLY advised me to look at the Scion xB over the Element, esp. the new xBs with the 2.4.
He went into details of why, which I can't remember off the top of my head.  I'd rather not try to parrot what he said, as I would probably mis-state something.
(He changed dealerships as his LOCAL management at the two varied and he had a friend at the Honda one.  He is not impressed with the Element, but is with the xB2.  He lives in a different state than I do.)

Also, the fact that the Scion dealership is just over 20 miles away and the Honda one is over 35 miles was another factor . . .