I run beaconpush.com which is a cloud-based service for browser push messages. We're based on Netty and Java, which works out well for us. We've looked at Erlang and wrote some initial prototypes in it but Java became our language of choice. Mainly because we knew it and had some experiences with Netty, a NIO library for Java. Netty did also outperform Erlang and mochiweb (both vanilla configured).
Anyway, the problem tend to be with long-poll that users re-establish their connection back to the servers each time they receive a message or navigate to another page (or reload the page). This end up taking a big toll on the system. We're to some extent limited to how fast we can perform accept() on our sockets.
If you use long-polling with multi-part you can get away with sending more messages on a single established connection (it becomes request/response/response/response or similar). That can reduce the system load and the use of WebSockets can eliminate the use of reconnections altogether (disregarding any page reloads).
Facebook's use of AJAX navigation (i.e not reloading the entire page when user clicks on links etc) also reduces this load. This due to not having to re-establish a connection each time a user reloads a page.
So yes, we're actually CPU bound by the accept() behavior (at least to how the JVM does accept()). But would our connection be more permanent in nature then no, we would of course be more I/O bound if not completely.