In my opinion, I think the dual 733 would be faster. It can dedicate processes to different cpus thus making the load on the cpu's less. Plus if your board supports hyper threading, then it makes you system look like it has 2x as many cpu's as there is really installed. I have heard as hear say that when using hyper threading, the virutal cpu gives you 60% more processing power. For the true answer your looking for, you would have to run a bench mark tester.

I assume you referring that both of these cpu's are Pentium III's. another thing to consider is the comparison in size of the L1, L2 and L3 cache. 2 cpu's should give you a total of 2x as much cache memory and the 1ghz processor. The cache is used to process cpu instruction code. So the more cache you have the faster it can process the instruction requests.

Critter
http://www.chrisstokes.com