Hyperthreading is supported with 2k. All that hyperthreading does is make the OS think that it is running on dual processors, instead of the single processor that is installed.
This is the problem that I've run into with it, though. If you install 2k with hyperthreading turned off, then turn it on at some later point, winblows won't see the "second" processor. Same thing happened to me when I reinstalled windows with hyperthreading on, then turned it off. When I went to turn it back on, winblows only recognized one processor. I was told that there is supposed to be a way to enable dual processor support after the install is complete, but I haven't been able to find it.