Worky (that your real name? :-)
Nope, its Mike. worky.workerson is just the email that I use for "work" :)
How many CPUs on the machine? Can you send the result of "cat /proc/cpuinfo"?
Not at work at the moment, however I do have quad dual-core opterons, like Merlin mentioned.
Is your "cat file | psql" being done on the DBMS server or is it on the network?
Everything is currently being done on the same DB server. The data that is being loaded is on the same 2-disk "RAID10" as the OS and WAL.