Rather than using a 486, we could use a pentium (16kbdata+16Kb Instruction cache, not the older p54c).
Have you also observed that if we were to share the L2 cache with 12 odd CPUs, the cache hit may reduce drastically if the cache size is insufficient and besides the L2 cache will be difficult to implement for those 12 odd 486s because I do not think it is a wise idea having so many threads running on the L2 cache.
We could use the pentium (the u and the v pipes being the obvious reason) because of it's superscalar architecture and seperate L1 cache for I and D. According to me, the pentium will occupy 4 times the area as a 486. But what they mentioned in this article was that they were going to heavily modify the 486.
Thus the pentium core would approx. occupy 3 times the area of this 486, which is pretty much okay.
Besides if at all AMD starts manufacturing cores using the 0.65u process, then compared to the CPUs manufactured using the 0.13u , the newer core takes about 1/3rd the area of the old core, so we can squeeze 3 cores out there. If at each individual core maxes out using 0.65u process, then possibly they can deepen the pipeline a bit, though it may slow down the CPU a bit........