There are two UltraSPARC T series CPUs: the T1 and the T2. The T1 was the first in the series and is a 90 nm 4, 6, or 8-core chip that can process up to two threads per core (similar to how a single-core Pentium 4 HT can process two threads per core.) The T1 ran at 1.0-1.2 GHz and has 3 MB L2 cache. It is primarily designed for web servers (especially ones that run lots of JVMs- big surprise there, huh!). The T2 also has up to 8 cores but each core can juggle 8 threads instead of two, so the OS sees 64 logical processors. The T2 has 4 MB L2 and is built on a newer 65 nm process and goes up to 1.4 GHz. Both the T1 and T2 are available only in single-CPU Sun servers and are notable for their low (~70-watt) thermal dissipations.
You can use either the T1 or T2 as a general-purpose CPU if you have an OS that runs on a SPARC64 CPU (Solaris, Linux, probably some BSDs as well). The CPU is heavily biased towards throughput in very multithreaded tasks, which is pretty much the opposite of what most desktop users encounter. The T1 also absolutely sucks at floating-point computation as it has one FPU for the entire CPU. The T2 improves FP performance as it has one FPU per core instead of one FPU per CPU, but it still significantly trails a Core 2 or K8/10h based system in FPU power as Core 2s and K8s/10hs have three FPUs per core and run at 2-3x the clock speed.