Saying 2 physical + 2 logical cores is sort of bad. It is more like 4 virtual cores running on 2 physical.
If 2 logical cores are at full load running on top of only one physical core. Each of this logical cores is slowed down but by a little less than 50%, thus it is making one core act as two slow cores.
Putting the same workload on these two slow virtual cores instead of one makes them finish about 20% or less.
According to Intel they need about 5% more DIE Space for upto 25% more speed (or non at all or less, HT does hamper performance in some situations like games). AMD with Bulldozer says their double Integer Module speeds up about 80% (because most workload is Integer stuff and they basically have almost two full Integer Cores) but needs only 12% additional DIE Space per Module.