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Every machine is different. It certainly will make a different if you have a computer with many cores, but on many machines there may be literally no difference.
It will also vary a lot depending on how your league setup is. For example, if you are generating a lot of box scores and game logs, they are quite slow and not as easily threaded as other parts of the game, so you may not notice a difference there. However if you are simming a league without storing any of those, then you may notice a larger improvement due to threading.
But in general, my take on threading is to leave it on whatever the recommended setting is, unless if you understand enough about your machine as to why you should try it on another setting.
But also, as I sort of alluded to above, if you're most concerned about speed of simming, then I would definitely recommend checking through the various league options, since those can make a larger difference than enabling threading. Enabling all the options (game logs, recaps, box scores, etc...) is probably a 10X difference from doing everything to doing nothing, whereas threading is maybe a 2X factor in how much it can realistically speed things up.
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