Note: you must use Intel VT or AMD-V enabled CPUs for this. Opterons that have only 3 digits in their model number won't work (such as 275, 880, etc), those with 4 digits (2220, 8218, etc) will.
(edit: looks like non-Windows guest OSes can only be allocated 1 virtual CPU; for me that is a deal-killer.)
If you were a 99% Windows shop but wanted a linux-based DNS, mediawiki, subversion or similar server would be one case. (Host mostly Windows guests, but a small number of non-Windows.)
(edit: looks like non-Windows guest OSes can only be allocated 1 virtual CPU; for me that is a deal-killer.)