I've had to handle streams of continuous events (as in, plural dozens per second, not several per minute) only in two contexts.
In one, eventual consistency was adequate. Events don't need to be sorted except against internal resolution. For this, each broadcasting subsystem had their events in a rotating buffer, and it doesn't matter if events get consumed from different subsystems in different orders, so long as events from the same subsystem are processed in order. In particular, events are generated by each subsystem by only a single thread, so there is no lock contention or unfairness between generators inserting into the queue.
In the other, order of processing was of critical importance, but there was only one thread which could generate events. I set it up so that events were processed at the top level of the loop, so no processing of events can be done until all possible event generation in response to the previous event has been completed. Sorting was thus a natural property of the event-response cycle, where event propogation is by definition asynchronous, and you can't block on the event broadcast waiting for a response.
Without knowing more about your problem space and its timing constraints... I think if you have to respond to events in a very specific and critical timestamped order, you need to establish an upper bound of how long you're willing to hold on to an event, waiting for events older than it to arrive, before that event can be processed. Your heap should be fine, just don't pop the head element from it until it is at least a certain threshold age.
If the access patterns you're talking about are cache friendliness... don't. Unless you can fit several event structures in a single cache line, it's not going to matter.
RIP GameDev.net: launched 2 unusably-broken forum engines in as many years, and now has ceased operating as a forum at all, happy to remain naught but an advertising platform with an attached social media presense, headed by a staff who by their own admission have no idea what their userbase wants or expects.Here's to the good times; shame they exist in the past.