I have the same issue in 10.10 maverick meerkat with a Medion Medion MD9580-F. 
I added this to GRUB_CMDLINE_LINUX_DEFAULT in /etc/default/grub:
"speedstep_lib.relaxed_check=1 speedstep_smi.smi_port=0xb2 
speedstep_smi.smi_cmd=0x82 speedstep_smi.smi_sig=1"

After update-grub and rebooting I now have a 
/sys/devices/system/cpu/cpu0/cpufreq entry. The powersave, performance and 
userspace governors work as expected. ondemand and conservative don't but 
produce this error in dmesg kernel output:
ondemand governor failed, too long transition latency of HW, fallback to 
performance governor

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No speedstep on IBM Thinkpad A21m (P3 Coppermine) with lucid and 2.6.32
https://bugs.launchpad.net/bugs/580189
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