Yes they do.
The K8 core is already strong to begin with.The law of diminishing returns is in full force here.
When you already start high , the improvements you make will bring little advantages.
Compare that with the P4 core which was far more fragile ( code quality was vital while the K8 eats just about anything ). Core brought massive improvements over the P4 , the score jumped a lot.Even compared to the K8 , core has a huge number of improvements , in the end it is only 20% better on average.
There are a lot of situations where K8 core+ 1MB L2 will be as fast or faster than K10 core + 512Kb L2 + 2MB L3 , especially where latency counts.In multithreaded apps , this will be more pronounced as the L3 will get trashed by different threads.
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