I have never explored HOW this would work, or WHAT I would do to achieve it, but I believe it, implicitly. For it to be true I would have to understand the implications of every function and procedure call, stack operations, actual size of objects/structs under alignment, optimisations in the assembler to align or select code which runs faster in the given ALU, none of which I know (if I ever did, certainly not any more)
But still: I believe this myth. I believe I know somebody who has achieved it, to test some ideas about CPU's ability to saturate a NIC at wire-rate, with pre-formed packets. He was able to show by binding affinity to specific cores and running this code, he could basically flood any link his CPU was capable of being exposed to, for a given PCI generation of NIC speeds available to him. (as I understand it) -But that assumes that walking off L2 cache would somehow make it run SLOW enough, to not be able to do this.
So I think it remains a myth, to me.