I run dual PIII 1GHz on an Asus CUV4X-D mb using SONAR XL. No problems here. I know that SONAR adequately uses both CPUs, as I monitor the CPU usage and notice both showing an equal amount of activity when using SONAR (on Win2k I might add).
A while back, I informally tested what this setup could handle, as far as amount of effects. I recorded 20-some tracks of nonsense for about 30sec each and applied like ten TapeSims, a few Revalvers, few compressors, some para-eqs - resulting in about an effect for each track and a couple on an Aux bus. It still spit out audio with no dropouts, but it seemed to be teetering on disaster.

But hey, that's a lota damn multiply and adds happenin there, way more than I would need. Plus every effect uses a different amount of CPU. I know the TapeSim and Revalver effects chew a lota CPU in relation to the para-eqs and verbs. anyway....
As far as stability, I get crashes every once in a while (from stupid stuff like moving tracks up or down in the Track view), but never once while recording or playing. Also, I have gone through two major recording projects with this setup.
The number of tracks more depend on the harddrive speed and HD interface speed/type (search around this forum - tons of info).
I would imagine a near doubling of plugin capability with dual CPUs - I have not tested this. No problems with DXi synths.
With CPU prices as low as they are (well, depending on what your looking for I guess), I'd go with the dual. You never know what your recording project may require. I went with dual and mix outboard! I probably could've gotten away with a single CPU. However, I thought about four months ago that CPU prices were low, so I chose dual. I definately don't regret it!
Search around this forum - there may be some threads where people boast what there dual processor system can handle in relation to a single proc. system.
Hope this helps
Karn