Mike, it seems to me that your mind is already made up. So apologies if the following amounts to post mortem abuse of an Equus Caballus...
What we're telling you is that a Core 2 is MUCH more efficient per clock cycle than a Pentium D. Meaning - It does more work per Mhz. Just look at any of the benchmarks that gillgill linked, or navigate to the CPU charts from the main page and do a little back of the envelope math. To pick a random benchmark: 3D Mark 06: P4EE at 3.2Ghz = a score of 1581. Divide the score by the clock to get an "efficiency" of 0.49 points per clock (1581/3200). Now you can use that 0.49 and multiply it by your 4.16 to get 2038. Using the 5GHZ you were referring to (but not attaining apparently), you get 2450.
The Q6600 you mentioned in your original post?? 2.4Ghz and a score of 3507, so 3507/2400 = 1.46 per clock. Compare a stock Q6600 to the calculated score of your "Best Possible Achievable" 5Ghz Pentium: (2450/3507 = 0.698), and we see that even at the highest clock speeds a Pentium can achieve, a
STOCK Q6600 is still 30% better than the Pentium 4 on this particular benchmark. *And* it achieves that 30% performance margin on less than half the clock speed. Plus it won't drive up your electicity bill or heat your outdoor swimming pool while doing so. Of course, if cooking hot dogs in your case during LAN Parties is your thing, then I'm sad to say a Q6600 isn't going to work. But a 5GHZ P4?? Yah Baybee!
This is only one example, though, so please please please feel free to repeat the math on the benchmark of your choice. Just divide the score by the speed to find out how fast per clock. You will find similar results across the board: The newer processors may have lower stock clocks, but do far far more work per cycle than what you have in your machine.
Another point which hasn't been brought up is that, single threaded or not, your game does not operate by itself, even if it's all that *you* are doing. Just open up the system tray to see all of the things which are active at any given time. Now: When there's more than one available, the operating system can dedicate a core to your game, and run background tasks on others. Your P4 has to take cycles away from the game to perform those same tasks. A Core 2 Duo or Quad does not.
In short - Any Core 2 Duo or Quad will put any Pentium over it's knee and SPANK it. HARD.