Another valve half arsed attempt it seems, look at games like quake4 which support dual core, it has massive improvements over single core.
I think valve are going for a sort of 1 core being a control core which designates work to all the other cores, so with dual core it's not going to show any real improvement.
Kind of stupid if you ask me, I'd be prepared to put up with the extended development times of Ep2/TF2/portal if the multi core support was going to be worth it, but that doesn't seem true anymore.
With games like Quake4 and COD supporting dual core in mere patches and the source engine being heavily re-written you'd expect better performance from the source engine, that doesn't sound like it's true.
I remember them commenting that this technology was intended for all future Valve-produced engines, and was being incoporated into HL2 sort of like a test-run(Sort of like how Source netcode replaced HL1 netcode). Since they expect multi-core programming to be a long-term problem, they're trying to get a long-term solution in place.
Might actually turn out to be a good idea with the Intel trumpeting their race to a bajillion cores. Might turn out to be looking too far ahead, considering the slow rate of adoption among average users. Who knows.
Anyway, I'm not sure what episode 2 being pushed back says about episodic content. If Q3 07 is too long to wait to have episode 1 and 2, then the preferable solution is to wait till say, Q2 08 to play Episodes 1,2,3 together? In order to say that episode 2's deadline being pushed back shows a failure in the episodic content method, wouldn't there have to be reasoning establishing that the episodic content is the key factor causing the delay of episode all 3 episodes? Otherwise getting the full-version would just be waiting till episode 3 to buy all 3 at the same time.
It certainly isn't an outrageous theory, since they have to design 3 beginnings and 3 endings rather than just 1 of each for an expansion pack. That added dimension for content design is what might cause an overall delay in production. You still have the tradeoff time of having to retrofit previous content with newly implemented tech though, but I wouldn't think that this would take too long. (If Episode 2 features new tech, then in a full expansion pack scenario, they'd also have to go back and add it to episode 1's content as well)(Or, the Episode pack just releases without any of it).
It's still conjecture of course, but it's strange to me that episodic content is being directly blamed for delay without anyone actually talking about why it's episodic content's fault.