Here is what The Register has to say about it:
Intel will be introducing SMT into their Foster chips in the summer, sources close to the project have confirmed to The Register. And with Project Jackson, its codename at Satan Clara, Intel will break with its traditional approach to microprocessor design by introducing SMT, or 'simultaneously multithreading', which presents two "virtual" processors to software application.
I don't know if this is going to do the trick for them but Intel needs something legitimate to crow about and soon. SMT is definitely an exciting piece of technology.