I'm under the impression that HT was badass when there were only single core CPU's, hell I had a HT p4 and it was wicked. With 2 or more cores I don't really see a point in it.
Well, you're partially right there.
Single threaded apps (incl most games, and most apps for that matter) won't show any real diff.
If you're a Maya or PShop user, then absolutely, there's real (25%-40%), tangible improvement.
But, most stuff today shows little if any benefit and some games show loss of performance with HT. See where you fall.