Hyperthreading is more useful on the in-order execution PowerPC CPU used in the Xbox 360, the Xenon, than it is on Intel CPUs which, other than the Atom, are capable of out-of-order execution. Both techniques try to use execution units that would otherwise sit idle, so when used together on Intel CPUs the net effect is that, like ArchAngel777 said, hyperthreading adds very little performance gain and usually nothing for games. Despite hyperthreading being more effective however, "threads" on the Xbox 360 don't count anywhere near being an entire CPU. You can't equate the Xenon to a 6 core Intel/AMD CPU, it's really just a three core CPU that needs hyperthreading so its in-order cores can be considered to be roughly equivilent to Intel/AMD out-of-order cores.
Anyways, my guess is that most 360 games don't make effective use of the three cores that are available. Multi-threaded programming is very hard to do effectively, so I doubt anyone would even really try except for AAA titles. There was web page on Microsoft's site that showed what each of the six threads would be used for in a typical game. I can't find it now, but only one thread was doing any real work, the rest were handing things like audio which need very little CPU. They're probably making better usage than that now but I doubt the average 360 game makes effective use of more than two cores, just like games on the PC.