Not in every scenario. But as a rule of thumb, test before you perform a split operation in a production environment.
Based on what we have experienced, it appears that its more efficient to just immediately insert into a compressed table, with a partitioned clustered index.
My SQLPass Schedule
It turned out that the issue was not Hyper Threading related, but a Bios misconfiguration instead.
We were able to tune the offending processes and go from 85% sustained CPU utilization to almost nil.