root:# vcpufreq-load
vcpufreq-load enabled in config...
CPUFreqPath: /sys/devices/system/cpu/cpu0/cpufreq
sh: /sys/devices/system/cpu/cpu0/cpufreq/scaling_governor: No such file or directory
Unable to set desired scaling governor...
try modprobing corresponding governor module:
# modprobe cpufreq_userspace
sh: line 1: try: command not found
Set scaling governor: userspace
sh: /sys/devices/system/cpu/cpu0/cpufreq/scaling_setspeed: No such file or directory
Set scaling speed: 0 (0 MegaHertz)
sh: /sys/devices/system/cpu/cpu0/cpufreq/scaling_max_freq: No such file or directory
Set scaling max freq.: 0 (0 MegaHertz)
sh: /sys/devices/system/cpu/cpu0/cpufreq/scaling_min_freq: No such file or directory
Set scaling min freq.: 0 (0 MegaHertz)
not much better
root:# modprobe cpufreq_userspace
FATAL: Module cpufreq_userspace not found.

PS I would be happy to use "ondemand", but can't figure out where to change it
PPS
For current kernels. you can find information on what is running on your system by looking at the files in this directory: /sys/devices/system/cpu/cpu0/cpufreq If this directory is not present, there is a good chance that your kernel does not have the CPUFREQ feature enabled.
PPPS
Solved my problem by adding "modprobe powernow-k8" to rc.modules