Should I disable HyperThreading
Often indicates nothing more than that certain queries are executing with parallelism; CXPACKET waits in the server are not an immediate sign of problems, although they may be the symptom of another problem.

If the server hosts a data warehouse or reporting type of database that receives a low volume of queries but processes large amounts of data, parallelism can substantially reduce the time it takes to execute those queries. In contrast, however, if the server hosts an OLTP database that has a lot of small queries and transactions, then parallelism can kill throughput and negatively impact performance. 

Whenever possible, it is best to isolate and troubleshoot the underlying wait type, since this will lead to overall system throughput improvements. Again, the CXPACKET waits are simply a symptom of a problem in most cases, not the actual problem

The sys.dm_os_latch_stats DMV contains information about the specific latch waits that have occurred in the instance, and if one of the top latch waits is ACCESS_METHODS_DATASET_PARENT, in conjunction with CXPACKET, LATCH_*, and SOS_SCHEDULER_YIELD wait types as the top waits, the level of parallelism on the system is the cause of bottlenecking during query execution, and reducing the 'max degree of parallelism' sp_configure option may be required to resolve the problems.

This TechNet Magazine article is old but it does say to try turning off hyperthreading if you are exceeding the 5000 per sec per processor:

Optimizing SQL Server CPU Performance by Zach Nichter