I don't know enough to give you exact performance characteristics, but 24 single-core machines with similar specs (RAM speed etc.) will out perform the Mac Pro by quite a large margin, but will also cost quite a bit more too!
It's important to note that the 24 logical threads isn't the same as having 24 cores, and having 12 cores isn't exactly the same as having 12 processors. Multi-core computing is definitely best way to get more processing power into machines than separate processors since they can share buses to memory etc., but it's important to bear in mind that they will be sharing the same RAM, hard-disks, and other hardware, so they will compete for resources in the majority of cases.
So if your simulations are completely separate (no data sharing at all) then separate machines will win hands down, and probably with fairly low-end parts, but it'll still cost you a bundle more to set-up and to run. The Mac Pro would have the advantage that you can also use it to kick the ass out of any more complex simulations, for example if you wanted to run 6 that require four threads each or even one really complex simulation.
Still a machine with 24 logical threads is appealing, my 8-thread machine is currently in the repair shop, but that doesn't really justify me looking at getting a newer one hehe, maybe when the Applecare expires