Simultaneous multithreading technology (SMT) can effectively improve the overall throughput and fairness through improving the resources usage efficiency of processors. Traditional works have proposed some metrics for evaluation in real systems, each of which strikes a trade-off between fairness and throughput. How to choose an appropriate metric to meet the demand is still controversial. Therefore, we put forward suggestions on how to select the appropriate metrics through analyzing and comparing the characteristics of each metric. In addition, for the new application scenario of cloud computing, the data centers have high demand for the quality of service for killer applications, which bring new challenges to SMT in terms of performance guarantees. Therefore, we propose a new metric P-slowdown to evaluate the quality of performance guarantees. Based on experimental data, we show the feasibility of P-slowdown on performance evaluation. We also demonstrate the benefit of P-slowdown through two use cases, in which we not only improve the performance guarantee level of SMT processors through the cooperation of P-slowdown and resources allocation strategy, but also use P-slowdown to predict the occurrence of abnormal behavior against security attacks.