There are more interesting was emerging to reduce power use while meeting common processing needs for commercial aps. The multi-core/ multi-thread CPUs are emerging strongly. There was the recent Sun multi-core, which offers 96 execution threads on a 60W CPU. It's using multiple threads on multiple cores. It presents a sort of single CPU appearance. Then there is the just announced mesh multi-core. It exposes a grid architecture that is a much faster version of the grids that are already supported by the various grid software approaches.
All of these are improving the speed of the multi-thread paradigm, rather than the speed of individual threads. In fact, the individual threads are often much slower than an ordinary PC. It has taken a long time for software technology to reach the point where multi-threaded solutions are really useful. I recall just how difficult it was to make things work in the early days (1980's) when I worked on it. The underlying software support was not ready for hard problems.