The documentation does not explicitly say if the OperationStreams are
executed concurrently, but it does say that if more than one
OperationStream contains operations for a single customer or campaign,
they will be performed in serial.

http://code.google.com/apis/adwords/docs/bulkjobs.html

"Further, this operation stream must be processed serially with all
other operation streams in a bulk mutate job that specify the same
scoping entity."

This implies that unless you are processing each customer or campaign
in only one OperationStream, the streams that share customer or
campaign ids will be grouped into one OperationStream and processed in
serial.

The documentation states that there is a system limit on the number of
concurrent OperationStreams to be processed. In the sandbox this limit
might be low enough that you would not see any difference in
processing speed by splitting jobs into more OperationStreams. It may
in fact hurt performance to do so in the sandbox, but if you make a
successful request in the sandbox then at least the same request
should work in production. In the production environment this system-
wide OperationStream limit is probably much higher and performance
would be better by splitting an operation into the smallest
independently scoped segments possible.

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