In my experience, upgrading your CPU will improve CPU-intensive tasks. This includes certain aspects of a video editing and/or transcoding workflow - there are others.
It does not really seem to have any effect on tasks that are not CPU intensive, such as word processing, reading mail, or web browsing. I say this last part only partially in jest. You won't see any difference if this is what you use you MP for. As noted in several posts above, there are lots of threads about boosting your MP's performance, including the CPU.