Oh, right, Snow Leopard ditched it because it's supposed to be able to do dynamic throttling via SpeedStep. Hrm. I've never bothered to check it myself. Maybe VoodooPower is just more aggressive than the default and you have some user background applications doing stuff?
Core i7 920, 3x2GB Corsair DDR3 1600, 80GB X25-M, 1TB WD Caviar Black, MSI X58 Pro-E, Radeon 4890, Cooler Master iGreen 600, Antec P183, opticals