I can't say I've done performance testing with Flight although I did extensively with FSX. In any case, it is much more complicated to use hyperthreading with graphics to keep them "in time".
Let's say the HT i7 has 0,1,2,3,4,5,6,7 with 0,1 on one physical core, 2,3 on the second physical core, etc. With non-HT, it's 0,1,2,3. Now, let's say you have 4 processes. On 4 physical cores, the work would be done at approximately the same rate because they are distributed to on 0,1,2,3, all physical cores. However, if you have HT enabled, the game has to be smart enough to distribute this work on only the "even" cores or "odd" but not both. 0,2,4,6 would be fine so would 1,3,5,7. Otherwise, if it distributed to even and odd, the you could be only using 2 physical cores, 3 physical cores, or 7 physical cores.
To complicate matters, the video driver has to understand this as well, and the thread that is loading graphic tiles also has to.
There is almost no advantage with a game to have HT enabled. I'd turn it off unless you are folding or doing some other work that can deal with work that is not dependent on order.