I just finished butchering a whole beef tenderloin which I bought because it was on sale and had a coupon. I saved about $5.00 a lb. Also, Barbara REALLY likes filet mignon, so it's good to have them in the freezer.
There is a lot of good advice on-line for this. The best advice I have gotten came from the Alton Brown (one of my very favorite TV foodies) in Season 9, Episode 15 of Good Eats, titled "Tender is the Loin, Part 1", which you can watch here (and I strongly suggest you do when you have a chance.) The only change I made is to cut the "roast petit" into small steaks or medallions, rather than keeping it as a whole roast.
Later I will be making Steak au Poivre (there is a good recipe for this on the Alton Brown video above), and I will post the details and a few photos after I do.
'til then, keep your knives sharp and your fingers out of the way!