No, we have some limited code for accessing the second core (which is referred to as the coprocessor or 'cop', the Broadcom chip is nearly always simply referred to as "the Broadcom chip") and there is a possibility that audio decoding will be handled on it. It really depends on whether this makes battery life worse, or can be used to improve it.
As it is, the plan for video is to have the second core on iPods play the audio so that what you're getting as a framerate right now is the *lowest* it should ever be if things work out right.