I find that hard to believe that using a CPU at 100% load would shorten it's life. CPU life is shortened by one thing (AFAIK), and that's electromigration. All silicon based chips undergo this process, it's accelerated by high voltages (currents). If the CPU is run designed voltage, the process is so slow it would take many, many years to be affected. Overclocking with higher voltage will increase the rate of electromigration, however, by the time it has the "effect of death" (assuming you don't use an insanely high voltage), the CPU would be obsolete. I'm talking about 5-10 years!
I've read a lot of threads over the years regarding this phenomena, including those posted by an Intel CPU design engineer who used to post on AT. Personally, I have no reason to believe that a 100% CPU load would shorten the CPU's life....someone prove me wrong, hehehehe.