Wikipedia also points out possibilities at an algorithmic level: https://en.wikipedia.org/wiki/Speedup#Super_linear_speedup
I don't have a thought about the wikipedia backtracking example.
Regarding cache-vs-RAM, or regarding RAM-vs-disk, I see no reason you cannot take the work that the parallel units do, and serialize it onto a single processor. Let me consider the example you gave.
Initially, you have two processors with caches of size N/2, and a problem of size N on disk. You effortlessly split the problem into two parts at zero cost (ha!), load the first part on procA, the second part on procB. You pay one load-time. Now you process it, paying one processing-time, then store the result to disk, paying one store-time. Now you effortlessly combine it at zero cost (again, ha!), and you're done.
In my serial case, I do the same effortless split, I load (paying one load), compute (paying one compute), then store (paying one store). Then I do that again (doubling my costs). Then I do the same effortless combine. My system is 1/2 as fast as yours.
In short, I think "superlinear speedup" due to memory hierarchy is proof-by-construction that the initial algorithm could have been written faster. What am I missing?
Say your workload has some inherent requirement for random (throughout its entire execution) access to a dataset of size N. If you run it on a single processor with a cache of size N/2, you'll see a lot of cache misses that end up getting serviced from the next level in the storage hierarchy, slowing down execution a lot. If you add another processor with another N/2 units of cache, they'll both still see about the same cache miss rate, but cache misses then don't necessarily have to be satisfied from the next level down -- they can instead (at least some of the time) be serviced from the other processor's cache, which is likely to be significantly faster (whether you're talking about CPU caches relative to DRAM in an SMP system or memory relative to disk between two separate compute nodes over a network link).
For a more concrete example somewhat related (though not entirely congruent) to the above scenario, see http://www.ece.cmu.edu/~ece845/docs/lardpaper.pdf (page 211).
So, mission accomplished! I now believe that superlinear speedup is a real thing, and know of one example!
Most commonly, yes, though in practice superlinear speedups can occur in some situations. (Not that this negates your overall point, just a nitpick.)