First are you in smp mode? (aka are you using two CPU's ?)
If not sure, cat /proc/cpuinfo (could be just cpu), it should have two entries if you have dual.
The next thing to check is what's using your CPU. Do a top, and see what's running on the box. You can have run away netscape processes that will use all the CPU.
After that, I would recommend trying the dnetc benchmark to make sure you are benching at a good speed.
If all else fails, come back here and explain what you got.
LD