Bill, if one core is working for you and not giving you any trouble, go for it. 
 My experience is definitely that a single-core Windows VM is a lot more 
sluggish than I’d like.  It works, but it’s not at all pleasant once you start 
using the machine full-time, even with all the background services turned off 
and no antivirus.  MacBook Air owners and Mac Mini users will probably all find 
themselves with MacBook Pros before long.  MacBook Air users especially acutely 
because those CPUs are slow as well as dual-core.  YMMV, of course.

I actually don’t like hyperthreading very much.  It helps, but it does so 
inefficiently.  The CPU is essentially cheating the OS into allowing the CPU to 
try and optimise workloads, but that creates an additional obligation for the 
OS to try to avoid allocating virtual cores that share physical cores with 
workloads, like virtualisation, that really need guaranteed performance.  
Without hyperthreading, the OS would be able to make much better guarantees 
about CPU resources, including some measure of “Fairness”.  Of course the 
counterpoint here is that without hyperthreading, the CPU would often be 
under-utilised, regardless of whether threads had guaranteed CPU resources.  
So, yes, it probably had to happen.  The workarounds to the workarounds were 
developed, and we all lived happily ever after.

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