Comment 2 for bug 460064

Same problem here, I think. Worked in Intrepid.

$ cpufreq-info
CPU 0:
(...)
current policy: frequency should be within 400 MHz and 3.20 GHz.
The governor "performance" may decide which speed to use
within this range.
(...)
CPU 1:
current policy: frequency should be within 400 MHz and 3.20 GHz.
The governor "performance" may decide which speed to use
within this range.
(...)

$ sudo cpufreq-set -c0 -g ondemand
$ sudo cpufreq-set -c1 -g ondemand

cpufreq-info still lists performance as the gov in charge...
No errors, no warnings, just no apparent change of governor.

$ cpufreq-info |grep "available cpu"
  available cpufreq governors: conservative, ondemand, userspace, powersave, performance

$ lsmod |grep p4_
p4_clockmod 4164 1