I've collected a few benchmarks and reviews comparing application performance with HT on and HT off. The results are varied. In some cases, HT improves performance, but in other cases it decreases performance.
http://vr-zone.com/articles/does-core-i7-hyper-threading-helps-/6160.html?doc=6160
http://www.hardware.info/nl-NL/articles/amdnZ2ptZGCa/Intel_Core_i7_Uitgediept/3
http://www.tomshardware.co.uk/Intel-Core-i7-Nehalem,review-31404-12.html
Thus, as far as I'm concerned, the benefit is inconclusive. I'm leaving mine on though
http://vr-zone.com/articles/does-core-i7-hyper-threading-helps-/6160.html?doc=6160
http://www.hardware.info/nl-NL/articles/amdnZ2ptZGCa/Intel_Core_i7_Uitgediept/3
http://www.tomshardware.co.uk/Intel-Core-i7-Nehalem,review-31404-12.html
Thus, as far as I'm concerned, the benefit is inconclusive. I'm leaving mine on though
