Yes. Win2k supports multi-cores, but with an important caveat.
The catch is that it doesn't understand more than one core per socket. So Win2k pro, which is limited to '2 sockets' is actually limited to '2 cores' as well. Win2k will see both cores and it will use them - but it will treat them, for licencing purposes, as totally seperate CPUs.
In XP and Vista, the OSs do recognise the difference between hyperthreaded-virtual cores, dual/quad cores and sockets. And MS have said that these newer OSs are limited on a 'socket' basis, not on a core/virtual core basis.
There is a problem with quad-cores and hyperthreaded-dual-cores. These CPUs show as 4 cores. But because 2k treats each core as a seperate CPU, 2k pro will only use the first 2 cores it sees. (By extension 2k server will make full use of a quad core).