Treyhoss,
S/N ratio is the same specification for CD players, tape decks, and pre-amps. It is the ration of the noise generated by the electronics themselves to the desired signal passing through those electronics. So, all other things being equal, the higher the S/N ratio, the better the gear since the less noise (junk, trash, grain, etc) it will add to the audio signal.
That said, the others (and you) are right. A pre- with a S/N ratio of 110 dB is not automatically better than a pre- with a S/N ratio of 100 dB. I would think that most competent designers could manage a S/N ratio of >90 dB, though.