I agree with the last couple posts about the stage 1 install.
The "challenging" parts are stage 3 and beyond. Configuring the kernel with the proper options, possibly getting your network up, and getting X up and running. Configuring configurations. And from everything I hear, getting an ATI graphics card to work well.
With my former dialup ISP, I did stage 1 installs because they were quicker. Large file downloads slowly degraded in transfer rates. I either had to stop and resume numerous times, and hope that it wasn't corrupted, or go with smaller pieces to begin with. In the end it was best to do stage 1.
With dsl now, and recently installed via stage 3 for the first time. Also first time installing from a Gentoo CD (never managed to get a non-corrupt ISO from dialup).
Stage 1 and 2 don't have any advantages. The additional steps are just "type this into a console and wait".
But if that's what you want, then go for it. There's no real advantage to mountain climbing or sky diving, but people still do it. Just keep in mind that it is no longer officially supported. Meaning there are no up-to-date instructions on it, and getting help if something goes wrong may not be easy.
On the dual core questions:
AMD64 is x86_64. Which would be any of the 64 bit AMD processors and the newer 64 bit Intels (Core2, not sure what else, but not Itanium(?)).
Symmetric multi-processing support in the kernel is required for multi-core cpu's and multi-processor motherboards.
Hyperthreading support is for P4's. Maybe others? Core2 doesn't use it, I don't think any Amd uses it.
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