Chuck:
So far, I'm having more luck running under OS 10.4.11 than 10.5.1 in terms of processor overload. (I have two startup disks - - the one with 10.5.1 is a clone of the main disk which I updated to 10.5.1 for testing purposes.)
My experiences with processor overload could be related to the fact that I have been using Finale 2008 to drive the standalone. Finale 2008 seems, itself, to be a bit of a processor hog - - and can only make use of one processor - - even if you have 8 processor cores. Its compatibility (or lack thereof) with OS 10.5.1 might also be a factor - - as, a few seconds every time after I quit under 10.5.1, I get a message that Finale 2008 has "unexpectedly quit" - - and find its temp files in the trash. (This does not happen under OS 10.4.11.) Logic might be a more efficient driver here as it can make use of multiple processors, but my habit, when composing, is to write notation in Finale. When the score is done I transfer it via a MIDI file to Logic if a recording of a MIDI performance is necessary.
In any case, I have about 2.5 GB of samples + Altiverb loaded into the standalone at the moment. This leaves about 1.5 GB of free memory on a dual 2.5GHz G5 equipped with 7GB of RAM - - no doubt because of numerous openings and closings of VE during the attempt to launch Finale which also, unfortunately, initiates a launch of VE to no purpose). Playing a dense passage of orchestral music, Activity Monitor shows that Finale is using about 70% of CPU while VE varies between 80-103%. I don't hear any digital artifacts - no clicks and pops. I will continue testing. Like you I plan to purchase an 8 processor core Penryn machine when it becomes available.
Update:
Playing the same file - - with the same VE setup - - under OS 10.5.1 results in artifacts (clicks and pops) presumably produced by processor overload. This did not happen under OS 10.4.11. After a fresh restart, free memory was 3.4 GB in OS 10.5.1 - - in other words plenty of memory, but not enough processor. CPU readings were 80-90% for Finale and 90-108% for VE under OS 10.5.1. I will try later after I've turned off the (very convenient) "Spaces" feature - - and anything else I can think of that might cause excessive overhead in terms of processor usage.