The two gold medals capped a dominating performance by Italian riders who occupied four of six places on the podium, Nadia de Negri taking the silver in the women's event and Luca Bramati the bronze in the men's.
Olympic champion Pezzo confirmed her victory in Atlanta with an awesome display of power, covering the 33-km women's course in one hour, 59 minutes and 42 seconds and finishing almost four minutes clear of De Negri.
Pezzo, winner of eight of 10 World Cup events this season, had such a large victory margin that she had time to stop and get an Italian flag and then ride the final 300 metres with her hands raised in the air in celebration.
``This is perfect finish to a perfect season,'' said Pezzo after reclaiming the title she won in 1993. ``I couldn't want anything more.''
Spain's Margarita Fullana had looked poised to claim the silver until her chain snapped 500 metres from the finish, forcing her to run her bike across the line and settle for the bronze.
Canada's Alison Sydor, three times champion, struggled on the hilly lay-out but outsprinted home-town favourite Chantal Daucourt in the final 100 metres to finish fourth.
Winless in five years on the World Cup circuit, Pallhuber fought off a late challenge by Henrik Djernies of Denmark, world champion three times, to record his first career victory.
Pallhuber, fourth at last year's championships, covered the 51-km men's course in two hours, 42 minutes and 26 seconds, crossing 64 seconds clear of Djernies with Bramati a further 32 seconds adrift.
1. Paola Pezzo (Italy) 1.59.42 2. Nadia de Negri (Italy) 3:40 3. Margarita Fullana (Spain) 4:12 4. Alison Sydor (Canada) 5:14 5. Chantal Daucourt (Switzerland) 5:17 6. Laurence Leboucher (France) 6:36 7. Alison Dunlap (U.S.) 7:23 8. Gunn-Rita Dahle (Norway) 8:38 9. Silvia Fuerst (Switzerland) 9:32 10. Alla Epifanova (Russia) 10:42
1. Hubert Pallhuber (Italy) 2:42:26 2. Henrik Djernis (Denmark) 1:04 3. Luca Bramati (Italy) 1:36 4. Kirk Molday (Canada) 2:33 5. Pavel Cherkasov (Russia) 3:39 6. Thomas Frischknecht (Switzerland) 4:43 7. Roland Green (Canada) 5:57 8. Jan Ostergaard (Denmark) 6:15 9. Dominique Arnould (France) 6:39 10. Beat Wabel (Switzerland) 6:57 11. Bart Brentjens (Netherlands) 7.03 .. 17. Van Dooren (Netherlands) 10.20 33. Gerritsen (Netherlands) 17.20 Dutch DNF Nijboer Weevers Arntz Groenendaa.
1. Anne-Caroline Chausson (Fra) 6:59.92 2. Marielle Saner (Swi) 7:19.55 3. Katja Repo (Fin) 7:22.84 4. Elke Brutsaert (USA) 7:26.97 5. Giovanna Bonazzi (Ita) 7:32.57 6. Kim Sonier (USA) 7:33.49 7. Mercedes Gonzalez (Spa) 7:34.09 8. Leigh Donovan (USA) 7:36.86 9. Nolvenn LeCaer (Fra) 7:37.49 10. Katrina Miller (Australia) 7:49.20
1. Nicolas Vouilloz (Fra) 6:22.62 2. John Tomac (USA) 6:28.81 3. Cedric Gracia (Fra) 6:28.84 4. Marcus Klausmann (Ger) 6:30.41 5. Jurgen Beneke (Ger) 6:31.67 6. Steve Peat (GB) 6:33.32 7. Myles Rockwell (USA) 6:33.47 8. Tomas Misser (Spa) 6:35.72 9. Johan Engstroem (Swe) 6:35.77 10. Bas DeBever (Ned) 6:36.29
1. Sara Stieger (Swi) 4.15 km in 7:44.32 2. Tracy Moseley (GB) 7:47.29 3. Sabrina Jonnier (Fra) 7:48.48 4. Miriam Blas (Spa) 8:09.80 5. Nicole Stockalper (Swi) 8:18.35 6. Johanna Ruebel (Ger) 8:28.49 7. Melissa Miller (USA) 8:54.38 8. Patricia Loureiro (Bra) 9:13.26 9. Sari Joergensen (Swi) 9:14.71 10. Isabel Karcher (Ger) 9:34.13
1. Mickael Pascal (Fra) 6:34.46 2. David Vazquez (Spa) 6:42.48 3. Tobias Westman (Swe) 6:44.77 4. Fabien Barel (Fra) 6:46.56 5. Livio Zampieri (Ita) 6:53.00 6. Adrian Vesenbeckh (Ger) 6:53.25 7. Jeffrey Archer (Swi) 6:58.08 8. Gary Houseman (USA) 6:58.51 9. Jacky Sery (Fra) 6:59.99 10. Nathan Rennie (Australia) 7:01.45
1. Cecilia Potts (USA) 21.5km in 1:30:37 2. Helena Eriksson (Swe) 0:34 3. Anna Szafraniec (Pol) 0:46 4. Sonja Morf (Swit) 2:08 5. Jindriska Beistova (Cze) 2:24 6. Sara Steiner (Swit) 4:59 7. Cornelia Dreher (Ger) 5:33 8. Carrie Tuck (Can) 5:59 9. Simone Esslinger (Ger) 6:47 10. Verena Berger (Ger) 7:16
1. Miguel Martinez (Fr) 43km in 2:12.49 2. Cadel Evans (Aus) 6:39 3. Dario Acquaroli (It) 7:09 4. Gregory Vollet (Fr) 9:38 5. Roel Paulissen (Bel) 10:01 6. Christoph Sauser (Swit) 10:28 7. Jose Antonio Hermida (Sp) 10:39 8. Kashi Leuchs (NZ) 12:48 9. Thomas Hochstrasser (Swit) 12:53 10. David Rolandez (Fr) 13:22
1. Hilda Quintens (B) 9:20.14 2. Annamaria Cavadini (Swit) 9:21.62 3. Jane Ledgerwood (GB) 9:29.65 4. Jeniffer Zeuner (USA) 9:30.60 5. Alison Kurtz (USA) 9:35.17 6. Michelle Turner (USA) 9:50.82 7. Stacy Beneke (USA) 9:53.87 8. Kathy Sessler (USA) 9:53.98 9. Jayne Marshall (GB) 10:09.67 10. Elfriede Lehmann (Ger) 10:58.04
1. Francois Dola (Fr) 7:10.52 2. Erich Fruehwirth (Aut) 7:10.71 3. Kelly Lee (USA) 7:20.42 4. Jean-Pierre Bruni (Fr) 7:21.67 5. Fabrizio Cozzi (It) 7:29.68 6. Peter Schaupp (Ger) 7:32.58 7. Stephen Blackley (NZ) 7:32.74 8. Alan Blood (GB) 7:36.12 9. Alfredo Rigamonti (Swit) 7:38.69 10. Erwin Claessens (Bel) 7:38.95
1. Giuseppe Locchi (It) 7:45.92 2. Emiliano Cavadini (Swit) 8:03.15 3. Lucien Claes (Bel) 8:08.59 4. Michael Jennings (USA) 8:10.92 5. Harold Sommer (Ger) 8:15.04 6. Tracy Oswell (USA) 8:17.79 7. John Walker (GB) 8:19.29 8. Tim Flooks (GB) 8:21.98 9. Bill Calder (USA) 8:34.38 10. Mike Eatough (USA) 8:36.28
1. Rhonda Quick (USA) 21.5km in 1:31:38 2. Marla Streb (USA) 0:50 3. Anita Steiner (Swit) 1:11 4. Anne Lovis-Fluri (Swit) 5:37 5. Erika Beer (Swit) 7:02 6. Lisa Kaberlein Ger) 11:45 7. Sandra Knox (USA) 12:57 8. Arlette Schneider (Swit) 14:28 9. Belinda Flattery (GB) 14:55 10. Beatrice Rhis (Swit) 16:42
1. Leonard Hegemann (Ned) 2:35:21 2. Markus Naef (Swit) 0:41 3. Joe Lackner (Aut) 1:12
1. Georges Luthi (Swit) 1:57:59 2. Luciano Abram (It) 6:17 3. Ruedi Parpan (Swit) 7:02
1. Christian Jupillat (Fra) 2. Urs Brechuhl (Swi)