I would guess so. Just looked at the HFM benchmark, the comparison draws up some very strange goings on.
Dual X5450 (3 Ghz quad core Xeon, 1333 FSB 12MB cache 45nm) came up with this:
Number of Frames Observed: 99
Min. Time / Frame : 00:10:35 - 7,250.0 PPD
Avg. Time / Frame : 00:11:22 - 6,513.6 PPD
Yet the other machine (Dual 5150 2.66Ghz dual core Xeon 1333 FSB 4MB cache 65nm) is currently processing one:
Number of Frames Observed: 85
Min. Time / Frame : 00:15:49 - 3,968.2 PPD
Avg. Time / Frame : 00:15:52 - 3,949.5 PPD
Cur. Time / Frame : 00:15:53 - 3,942.4 PPD
R3F. Time / Frame : 00:15:51 - 3,950.7 PPD
All Time / Frame : 00:15:52 - 3,946.6 PPD
Eff. Time / Frame : 00:15:53 - 3,942.4 PPD
Something way obviously wrong with the 8 core setup, it should have had about 2.5x the processing power. Both of those are P6702