Ok, here are my own personal tests and conclusions:
Downstairs, I have a p4 that supports hyperthreading (not I nor my brother are not much for intel, but this motherboard/cpu was extremely cheap.) I was doing my own personal tests in comparing games with HT disabled vs HT enabled.
I tested several games (not q3 however, I honestly hate that game,) to include the 4 I mentioned in the other thread (wanted to see the overall speedup due to the fact that SMP should ideally give a neglegible performance increase to the system abroad so long as the kernel supports it, so I even tested non SMP games as well.)
Now, I don't have actual numbers, but having HT enabled vs not enabled gave a performance increase comparable to that of conservatively overclocking a video card. Overall it was noticeable, and a worthwhile thing to have. RTCW saw an overall performance that was better than the rest.
The game that really piqued my interest however was UT2k3. The overall framerate wasn't the big improvement, the big improvement was that there were never any noticeable framerate drops with HT enabled, whereas with it disabled it happened frequently when there was a lot of action on the screen. Prior to doing this, I had no idea that UT2k3 had any multithreading, but after a search I found that it does.
Now, granted these aren't end all to be all speed improvements, I think SMP gaming stands as much a chance of becoming as common as 64-bit gaming. As it currently stands today, SMP is already better for gaming than 64-bit, because at least there are games that support it. Albeit SMP runs a tad (probably less than .01%) slower on single processor systems, this is the total opposite with a single hyperthreading CPU.
In terms of the future of gaming: if AMD chips supported hyperthreading (thus everybody would have it) then SMP would be nice in the fact that if you wanted to have more performance, you could just add more processors (assuming the motherboards of the future could work that way, which isn't far fetched really.)
To answer the question posed by the subject: yes, SMP is definitely worth it. Having dual CPUs on the other hand, maybe not because the cost still outweighs the benefits quite a bit, but SMP is definitely a good thing.