Okay. First to say you hopefully know that a Velociraptor is nothing compared to SSD. SSDs are up to 100 times faster than even a Velociraptor. With no CPU upgrade you can get such large performance improvements. I use Velociraptors as well but that did only little improvement.
On the other hand I would be interested by which operations you feel CPU bound and what time you wait for the result of the operation (half, one, 10 seconds?).
I mean a Core i7 920 is already a really fast CPU.
I still believe that you are not CPU bound especially if you say that you manipulate such large files.
Yes, I'm well aware of the speed diff between Velociraptor and SSD but when I purchased the rig SSDs were just coming onto the market and they were still having a fair amount of controller problems. Applying filters onto large files is just one of the functions where Photoshop is looking for a hefty CPU, and there are some functions where it can pass off processing to GPUs as well. The biggest Photoshop file I've worked with to date was just over 3GB and I was maxing out my 12GB RAM. I'm looking to populate the 8 slots on the LGA2011 SB with 4GB sticks, so at least I'll be able to toss more than enough RAM at that Photoshop hog. Don't get me wrong, my i7 is plenty fast in these processes, but I'm a speed freak so I want the max.