You never really need a second processor unless you are doing a ton of CGI or the number of active apaches serving requests gets more than your current server can handle. Just check out your load average and cpu states, if you have 98% free and loads are below 1 you are no where needing another processor. The other things which can bottleneck performance are your RAM, you will notice heavy swap usage when its time to upgrade, or I/O of your harddrive/motherboard, very rare especially if you are using SCSI. Plus by the time you have I/O problems you would probably first encounter other issues.
And if you get charged $750 for a new processor you are getting ripped, unless of course you are getting a second Xeon 2.4ghz. And unless you are running Linux and reprogramming your stuff for threads there shouldnt be any software costs associated with the upgrade.
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