A couple years ago I noticed a new version of the payroll posting program - in addition to RPCIPE00 I noticed RPCIPE01 was now available. This new version of the posting program breaks the posting run into multiple parallel jobs so that the elapsed run time is shortened. That was great news because I had clients who were spending way too much time getting payroll posted into FI, CO, FM, GM, etc!
But then my enthusiasm was tempered - it didn't (yet) support Concurrent Employment payroll (which is what many of our customers use), and it didn't support PBC (Position Budget & Control) commitment creation, which was critical for a couple customers. But I've been keeping an eye on the notes that have been coming from SAP on it - note by note they have been correcting and adding functionality. It now looks like a pretty functional replacement for the standard RPCIPE00 posting program.
It's not a plug-and-play replacement though. You will have some minimal configuration to do, and if you've implemented user exits or BADi interfaces in RPCIPE00 then you will have to reimplement them for RPCIPE01. But the config and development doesn't look like all that much work - most of the work will be in testing it thoroughly to make sure you are getting correct results.
Note 1079153 introduces RPCIPE01. Since this program is likely to keep evolving for a while, be sure to search for 'RPCIPE01' in area PY-XX-DT and review all the notes there to make sure you're up to date on the current functionality.