Ohhhhh. Wait, that chip uses two different synthesis jobs for the two cores, one of which uses only LP transistors and the other mostly G? I didn't know that, very intriguing. I thought the Marvell Armada 628 was the first to do something like that. This would also explain why Qualcomm is the only company that has invested in a dedicated DC/DC for each core; it would be problematic to share one DC/DC if the cores were rated for very different frequencies at a given voltage.
Regardless of whether the two cores are asymmetrical, separate power rails is a good thing for power. I believe Nehalem took this approach as well. The 8x60, for instance, has two symmetrical LP cores, but has separate regulators for each. It just makes sense if you can afford the engineering effort.
My assumption (if this is true) is that at very low frequencies the LP core takes significantly less power than the G core (which is therefore always power gated off in that case) due to lower leakage, but at the maximum frequency the G core takes *less* power than the LP core due to lower dynamic power. Anything else would be rather absurd and defy the whole point (with your numbers, you'd be better off with an overvolted LP core, that's insane!)
Well, the G process takes similar dynamic power. The thing to remember is that the LP process can only scale so high without drastically over-volting. And this being (well, intended) to be a tablet/netbook part, chasing performance was important. And let's face it, 1.5GHz sounds great for marketing.