Suppose you own a rig containing 32 CPUs @ 3Ghz and 256Gb DDR3 ram but very limited graphics capacity - and you have free electricity.

First off, everyone says CPU mining is out, is that true even with hardware like this?

Secondly, if useful, would it be more effective to use it all as one miner and let the software manage the resources, or would it make more sense to break it up using some sort of virtualization into a bunch of individual miners using smaller amounts of resources each?