I managed to install cpufreqd correctly with userspace as cpu_freq governor.
My problem was that I didn't know how to load the cpufreq modules, so I just built them directly into the kernel, along with ACPI and APM stuff.
Here's a very helpful link for frequency scaling:
(can't post URL because I don't have enough posts. ^^)
Now I'll try getting my ATI drivers to work, but that's another problem...