No so much for actual smart phone use. My belief is that intel is positioning itself as an affordable fully functional PC in smartphone format. Imagine just docking your smartphone, charging, internet access, email, applications, etc all from one single simple device.
That would be a reason we need multicore, and higher graphics. Sure a single processor can easily handle 4x1.6 graphics.
Great, what multi threaded apps are on phones to take advantage of the multi cores? It don't care, it only reduces efficiency of the processor when you add those extra cores. On my dual core phone the second core only brought about a 20% speed performance. The battery life was much worse than a single core phone.