CPU mining is definitely deprecated. You never get the bang for power, unless you have machines with 32 cores and free power. Well at least for BTC. For LTC cpu mining (very slowly) is still feasible. Quite good if you have one of those 32 core - 128GB RAM beasts lying idle, or you are Amazon or Google. Just fire up pooler's minerd and take up a bunch of CPU's. A little bit of math shows EC2 CPU power will not be worth the investment, but with LTC prices heading north of $10 theres is no telling what people will try - including writing minerd into viruses. Amazon might stop EC2 service and start CPU/GPU miners itself. CGMiner 3.7.2 with scrypt support can also get a fairly good rate on AMD Radeon cards with better OpenCL support. The ROI on these cards is definitely better than any of the miners in hand. Meanwhile people are pay AUD700 for 5GH BFL Jalapenos on ebay and joining the BTC bandwagon. Fun times ahead.
I am enjoying myself trading LTC/BTC and getting cheap thrills on penny stocks. Much better than when my horse (Verema) came last at the Melbourne cup, stumbled fell and had to be put down. I still won for last place. Even if like the horse, this vaporware currencies stumble fall and have to be put down they will leave behind legends and fiat currency millionaires.
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