KroKis, glad you found a solution and thank you for sharing it because it worked for me as well
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I actually tested out what you suggested and this is what I found:
I originally had my bios set to C1E enabled, speedstep enabled and C-State tech disabled. In windows 7, these settings allowed for my CPU to be clocked down by reducing the multiplier. However, in Snow Leopard, these settings allowed for only 2 states, either the multiplier was set to 9.0 or it was set to 22.0. Since playing audio files doesn't require much in terms of CPU power, 9.0 is where the multiplier stayed, causing my audio stuttering problems.
Now I have my bios set to C1E enabled, speedstep enabled, and C-state tech enabled with the limit being C1 (I also removed sleepenabler and nullpowermanagement kexts). The result in SL is the type of CPU underclocking that I observe in windows 7. When I play audio files, the multiplier goes to ~11 or some intermediate value between 9 and 22. This means no more audio stuttering and CPU power management even while overclocking, which is exactly the ideal situation I was looking for.
Based on my testing, it seems that windows 7 has no problem with the C1E power management, but OS X doesn't quite handle it correctly, so for OS X, you need C-state enabled with a C1 limit.
-AC3