
As you can see, RG1 and RG2 are replaced with switching regulators...is what I'd like to say, but all you can see from this picture is that RG1 and RG2 look funny, and that my phone's camera has an awful noise reduction algorithm. (Sorry. Maybe I can get a better picture tomorrow.)
So, how much power does it save? Assuming that the 1.8V and core rails draw a trivial amount of current when the processor is idle (a lousy assumption), the biggest offender is the 3.3V LDO (RG2). Since 3.3V is 2/3 of 5V, 1/3 of input power is lost as heat in RG2, and a 33% decrease in power consumption is the asymptote to reach for. Of course this all changes when the processor/RAM are active.
Actual measurement shows that when idle, an unmodified Pi draws 358mA, while the Pi with switching regulators draws 276mA, for a saving of 27%. This translates to 30% longer runtime for battery powered devices, well, if they spend all their time idle.
Is it worth it? Probably not. The LAN9512 is a huge power hog so I suspect a Model A with USB Wifi will probably result in even lower power consumption. But, if you absolutely need to squeeze out every last minute of battery life at any cost, it's worth considering.