Jeff Atwood has a blog post entitled Thread Priorities are Evil where he writes

Joe Duffy is something of an expert on the topic of threading and concurrency-- he works for Microsoft on CPU-based parallelism in the .NET Common Language Runtime-- and he has this to say:

Messing with [thread] priorities is actually a very dangerous practice, and this is only one illustration of what can go wrong. (Other illustrations are topics for another day.) In summary, plenty of people do it and so reusable libraries need to be somewhat resilient to it; otherwise, we get bugs from customers who have some valid scenario for swapping around priorities, and then we as library developers end up fixing them in service packs. It's less costly to write the right code in the first place.

Here's the problem. If somebody begins the work that will make 'cond' true on a lower priority thread (the producer), and then the timing of the program is such that the higher priority thread that issues this spinning (the consumer) gets scheduled, the consumer will starve the producer completely. This is a classic race. And even though there's an explicit Sleep in there, issuing it doesn't allow the producer to be scheduled because it's at a lower priority. The consumer will just spin forever and unless a free CPU opens up, the producer will never produce. Oops!

The moral of the story? [Thread] priorities are evil, don't mess with them.

Although there are some edge conditions where micromanaging thread priorities can make sense, it's generally a bad idea. Set up your threads at normal priority and let the operating system deal with scheduling them. No matter how brilliant a programmer you may be, I can practically guarantee you won't be able to outsmart the programmers who wrote the scheduler in your operating system.

On reviewing the RSS Bandit code it seems that we use ThreadPriority.BelowNormal and ThreadPriority.Lowest in a bunch of places which may cause the kind of deadlocks Joe Duffy describes. This is yet another example of why multithreaded programming is the spawn of Satan.