System: Intel 6600 Core2duo, 2GB RAM, X nice 0 for all tests, display using i945G framebufferFollowup: I reran with sd-0.46, setting rr_interval to 40, and then 5 (default was 16). Neither appeared to give a useful video playback. I did try setting the make to nice 10, and that made the playback perfectly smooth, as well as response to skip forward and volume change happening when the key was pressed instead of eventually.
Test: playing a 'toon with mplayer while kernel build -j20 running.
Tuning: not yet, all scheduler parameters were default
Result: base 2.6.21 showed some pauses and after the pause the sound got louder for a short time (<500ms). With sd-0.46 the playback had many glitches and finally just stopped with the display looping on a small number of frames and no sound. The skips were repeatable, the hang was only two of five runs, I didn't let them go until the make finished (todo list) but killed the mplayer after 10-15 sec. No glitches observed with cfsv7, I thought I saw one but repeating with granularity set to 500000 and then with no make running convinced me that it's just a crappy piece of animation at that point.
I ran glxgears, again sd-0.46 had frequent pauses and uneven fps reported. Stock 2.6.21 had a visible pause when the frame rate was output, otherwise minimal pauses. CFSv7 appeared smooth at about 250 fps.
All tests gave acceptable typing echo, it seems that X is getting enough time at that load to echo without major issues.
I will be doing tests with server load later this week, have to add disk for the database.
Hope this initial report is useful, I may be able to update ctxbench later today and try that.