CPU Bottleneck - Multiple Core Support?

[Clemeit]

Does DDO offer multiple core support? (I think I know the answer but I hope I'm wrong.) Seems to only utilize a single core. This was never a problem for me because I never had a dedicated graphics card, but I just recently custom-built a PC, and I'm running a GTX 1080 with an i7-6700k. The 1080 doesn't even seem to blink at the sight of DDO which is awesome, but the CPU is a major bottleneck.
I'm limited to ~200 FPS in The Harbor (I'm not complaining about this); however, with ultra settings I *often* dip below 60 FPS in Eveningstar - lots of frame drops and spikes, the whole shebang. Graphics card fans don't even turn on, but the CPU is maxed at 100% on a single core, and ~0% on the other 7 cores. "Object Draw Distance" seems to be the largest contributing factor, as turning this setting down results in a +60 FPS boost, as the CPU gets to work a little less hard.
I'm just curious if anyone else is having frame rate issues in Eveningstar. I also understand that DDO is an aging game, but I hope to be playing it for as long as possible. With new areas, it seems, comes new problems, and I hope that these problems will eventually be addressed and reconciled. I understand not being able to run everything on the average computer, but I figured a higher-end build wouldn't have trouble.

Would a fresh install help at all?

Regards.