Interesting idea for people who don't overclock, but much like SpeedStep, I imagine it will have to be shut off for overclocking. Most people would prefer to just run all the cores faster if they have to pick.
And if that's all it does when it shuts off THREE cores, then there's probably very little real world advantage to the type of person who would be using one of these processors. At the VERY least, they'll probably be playing newer games that would at least use two cores, but probably more, and people who actually need that kind of power to do something more serious may very well be utilizing all the cores at all times. Somehow, I don't think one of these processors needs a speed boost for Half Life 2 to begin with, much less web surfing.