LAME MT audio encoding
LAME MT is a multithreaded version of the LAME MP3 encoder. LAME MT was created as a demonstration of the benefits of multithreading specifically on a Hyper-Threaded CPU like the Pentium 4. Of course, multithreading works even better on multi-core processors. You can download a paper (in Word format) describing the programming effort.

Rather than run multiple parallel threads, LAME MT runs the MP3 encoder's psycho-acoustic analysis function on a separate thread from the rest of the encoder using simple linear pipelining. That is, the psycho-acoustic analysis happens one frame ahead of everything else, and its results are buffered for later use by the second thread. That means this test won't really use more than two CPU cores.

We have results for two different 64-bit versions of LAME MT from different compilers, one from Microsoft and one from Intel, doing two different types of encoding, variable bit rate and constant bit rate. We are encoding a massive 10-minute, 6-second 101MB WAV file here.

Here's another application where only two threads are used, and the Phenoms again struggle, even against the Athlon 64 X2.