I am calling BS, because running my G530 @ 800MHz (for another project) at the stock 1.1V fried the processor.
If you notice and watch it in CPUz, cool n' quiet and speed step scale voltage with speed. They do not just drop speed. And on most systems, it is not worth the programming they put into it to get it to work. Like on my D630, the T7100 at idle clocks down to 1.2GHz and drops the voltage by .1. So power savings and heat do not drop much at all. But it is just fine at .500V at 800MHz dual core mode when using the power saver applet in ubuntu.