Exophase
Nothing good will ever come of Exophase.
Recently I am using my netbook again for coding and it's not unpleasant so... yes I do see the point, do we really need all those MHz...?
For me, coding on the netbook was less pleasant mainly because of the decreased resolution, but the low power got in the way sometimes. I ran a distro called Eeesy Peasy and it was remarkably slow. Windows XP on the same netbook was not nearly as slow. Another thing I've noticed on that netbook - but also on every other machine I've tried - is that SDL is sickeningly slower in Linux (targeting pretty much anything, but especially X11) than in Windows (targeting DirectX). Sometimes there's just a lot of hidden bloat to account for..
In addition to compile speeds, one thing I like having more CPU speed for is for testing during development. This is especially true for emulators but can apply to game development to, or so I would imagine. When writing an emulator, especially for a relatively powerful system, I want to be able to emulate it as fast as I can while testing. And in the earlier stages, or when testing requires less optimized paths for comparison, that sometimes means just getting a higher percentage of real time speed.