It's a fact that high-end clinchers have lower rolling resistance than high-end tubs at the same PSI.
Higher PSI means lower rolling resistance so while a tubular at 120 PSI may have higher rolling resistance than a clincher at 120 PSI, it will almost definitely have lower rolling resistance at 220 PSI than a clincher at 140 PSI.
Of course this is a question about tubulars on the street not the velodrome so you wouldn't want to run your tires at 220 PSI anyway.