This is a server chip guys. To win you need to utilise all 48 threads.
The person running the contest (AMD's John Fruehe) is availible on a number of tech forums if you have any questions about the contest or the product.
The really impressive bit is that this each 12-core chip run at 2.2GHz with a ~105W ACP (75W ACP). It will put up a good fight against Intel's 130W 6-core Gulftown.