Not in my experience. I've seen countless cases where people just assume they have a CPU bound bottleneck, but profiling reveals that it is actually IO bound.
And that's ignoring all the cases where people rewrite their code in a new language to get a 10 time performance boost, ignoring the fact that a better choice of algorithm and data structure would give them a 100 time performance boost.
This is false:
benchamarksgame doesn't come even close to cover what I'd consider "most cases" of programs written.