You can't use both CPUs at the same time with that one. If you install both either something will explode, nothing will happen, or it'll just use one of them (probably configured using a jumper)
Ah, oh. I suppose you are right. I just pulled that one out of zhe Google because I remember having a dual socket P4 motherboard, with just one CPU fitted though.
This was in 2001, maybe I am misremembering and it was P3?