Look
HERE to see just how mcuh it helps out. at best about 17% on a dual CPU setup less on a single and from looking at it against the competition it's just catching up. As for HT on the Desktop when they impliment it isn't there even less of a difference then? I'll agree that HT will provide an increase but in that test it did no better then catch up with the Athlon MP or just surpase it. Read Anand's conclusion,
"But the real kicker here is what happens when Hyper Threading is enabled on the dual 2.2GHz Xeon platform. The resulting 17% improvement brings the new Xeons back into the game and puts them less than 3% away from the fastest dual Athlon MP 2000+ setup. This is by far the largest tangible performance improvement we've been able to produce in a real-world setting on Intel's 2.2GHz Xeons. For being the first true incarnation of a Hyper Threading enabled processor, we can say that we're impressed with the technology at this point. The performance boost not only resulted in a noticeable improvement in DB processing power but it also made the Xeon competitive. Without Hyper Threading, the Xeon would be in some serious trouble in the server world from a performance standpoint. With Hyper Threading enabled however the 2.2GHz Xeons can keep up with AMD's Athlon MP 2000+ CPUs. Oh, how times have changed; it used to be that AMD would never have been taken seriously in the enterprise market, and now we're talking about Intel striving to be competitive enough with the AMD's enterprise level performance."
Intels now up to 2.8 Xeon but they are running on the same bus and core that the 2.2's were. So while the perfomance will scale it's not going to be earth shattering considering a speed increase of 27%. I'm willing the bet that the 3.0Ghz P4 will be released at the same time as the 3.0Ghz Xeon because they will effectively be the same part. I'd also be willing to bet that HT is on the Northwood core it's just disabled.
*I just realized I'm arguing with an Intel employee*