I wanted to load cpufreqd locally first to gain more battery life for tinkering with wifi installing.
Following link you posted I tried to set 'conservative', but I could not change /sys/devices/system/cpu/cpu0/cpufreq/scaling_governor content to other then 'performance' or 'powersave'. I think it's because there are these only two governors in scaling_available_governors. However lsmod shows cpufreq_conservative module.
I notice considerably shorter battery life with constant 800 mhz (powersave governor). scaling_min_freq file doesn't accept less then 800000.
I don't know Fifth at all, I surely will try it (though larger than Dillo).