Did I read the specs wrong or are they claiming a 12x - 15x performance improvement over the Ivy Bridge Xeon in GFLOPS/watt? In a <2w package? http://www.adapteva.com/wp-content/uploads/2013/06/hpec12_ol...
Xeon, Power, etc are kind of power pigs anyway, though they've got a lot of absolute oomph to show for it.
One way to think about it is that things like branch prediction and speculative and out of order execution are like real-time JITting of your code.
Not having that silicon can make things way more efficient.