Install avidemux, set the number of threads to 2, and use either lavc (libavcodec) or x264 to encode videos. p7zip has multithreading support as well. And mplayer to play videos. If you compile things from source you can cut the compile time in half by running 'make -j2' or '-j3'. Other than that, there are few programs that are multithreaded or that need to be.
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