Eu só li sobre esse assunto algumas vezes. Eu encontrei um artigo em www.vmguy.com aqui que resume o consenso sobre esta questão HT (direta do artigo):
There are pros and cons to using HT in ESX.
Pros
Better co-scheduling of SMP VM’s
Hyperthreading provides more CPU contexts and because of this, SMP VM’s can be scheduled to run in scenarios which would not have enough CPU contexts without Hyperthreading.
- Typical applications see performance improvement in the 0-20% range (the same as non-virtualized workloads).
Cons
- Processor resources are shared with Hyperthreading enabled
Processor resources are shared such as the L2 and L3 caches. This means that the two threads running on the same processor compete for the same resources if they both have high demand for them. This can, in turn, degrade performance.
All things considered, it is difficult to generalize the performance impact of Hyperthreading. It is highly dependant on the workload of the VM. One additional point is that you can always utilize the CPU min and max values on a per-VM or Resource Pool basis to reserve certain amounts of CPU for your most critical workloads. As with the majority of performance items I enounter, test, test, test. Try out the workloads and see what works the best on the hardware you have available.
Mais uma vez, isso é diretamente do artigo. Não tenho certeza de que o HT vale a pena, pois eu também uso o AMD Opterons, então não posso falar por experiência própria.