It's getting massive. Number of wakeups goes up to 50k!!!! 
Now, my laptop is useleess. Being totally idle with Wifi turned on and backlight on the lowest level, laptop consumes 25 Watts (!) of energy, instead of about ~16W which was noticed on previous distribution (gutsy). It's close to 10W more and battery life dropped from 3,5 hours to 1,5 or less. 
It's a KEY thing if you are using linux on laptop. 

2.6.24-12-generic, newest hardy beta with all patches applied. 

Powertop report: 

PowerTOP 1.9    (C) 2007 Intel Corporation 

Collecting data for 15 seconds 
Cn	          Avg residency
C0 (cpu running)        (41,8%)
C1		  0,0ms ( 0,0%)
C2		  0,0ms (46,2%)
C3		  0,0ms (11,9%)
P-states (frequencies)
  2,41 Ghz     2,3%
  2,40 Ghz     0,0%
  2,00 Ghz     0,0%
   800 Mhz    97,7%
Wakeups-from-idle per second : 33821,1	interval: 15,0s
Power usage (ACPI estimate): 23,0W (1,8 hours) 
Top causes for wakeups:
  93,5% (2647,5)      <kernel IPI> : Rescheduling interrupts 
   1,7% ( 47,6)       <interrupt> : acpi 
   1,5% ( 41,1)             opera : schedule_timeout (process_timeout) 
   1,5% ( 41,1)       <interrupt> : extra timer interrupt 
   0,7% ( 19,3)       <interrupt> : iwl4965 
   0,3% (  8,0)   <kernel module> : usb_hcd_poll_rh_status (rh_timer_func) 
   0,2% (  6,1)       <interrupt> : ahci 
   0,1% (  3,6)    gnome-terminal : schedule_timeout (process_timeout) 
   0,1% (  1,8)           kcryptd : blk_plug_device (blk_unplug_timeout) 
   0,1% (  1,5)    wpa_supplicant : schedule_timeout (process_timeout) 
   0,1% (  1,5)      <kernel IPI> : TLB shootdowns 
   0,0% (  1,1)    cpufreq-applet : schedule_timeout (process_timeout) 
   0,0% (  1,0)       <interrupt> : uhci_hcd:usb5, yenta, nvidia 
   0,0% (  1,0)            dhcdbd : schedule_timeout (process_timeout) 
   0,0% (  1,0)         nm-applet : schedule_timeout (process_timeout) 
   0,0% (  1,0)              Xorg : nv_start_rc_timer (nv_kern_rc_timer) 
   0,0% (  0,9)    NetworkManager : schedule_timeout (process_timeout) 
   0,0% (  0,7)    sensors-applet : schedule_timeout (process_timeout) 
   0,0% (  0,7)        pulseaudio : schedule_timeout (process_timeout) 
   0,0% (  0,7)              htop : schedule_timeout (process_timeout) 
   0,0% (  0,5)       <interrupt> : eth0 
   0,0% (  0,5)           iwl4965 : ieee80211_sta_work (ieee80211_sta_timer) 
   0,0% (  0,5)   <kernel module> : neigh_table_init_no_netlink (neigh_periodic_timer) 
   0,0% (  0,5)    NetworkManager : e1000_intr_msi (e1000_watchdog) 
   0,0% (  0,5)       gnome-panel : schedule_timeout (process_timeout) 
   0,0% (  0,4)     <kernel core> : neigh_table_init_no_netlink (neigh_periodic_timer) 
   0,0% (  0,3)           syslogd : schedule_timeout (process_timeout) 
   0,0% (  0,3)   gnome-power-man : schedule_timeout (process_timeout) 
   0,0% (  0,2)              Xorg : do_setitimer (it_real_fn) 
   0,0% (  0,2)   update-notifier : schedule_timeout (process_timeout) 
   0,0% (  0,1)         iwl4965/0 : sta_info_start (sta_info_cleanup) 
   0,0% (  0,1)   operapluginclea : schedule_timeout (process_timeout) 
   0,0% (  0,1)       <interrupt> : PS/2 keyboard/mouse/touchpad 
   0,0% (  0,1)           kcryptd : end_that_request_last (laptop_timer_fn) 
   0,0% (  0,1)         sm-notify : do_journal_end (delayed_work_timer_fn) 
   0,0% (  0,1)     <kernel core> : page_writeback_init (wb_timer_fn) 
   0,0% (  0,1)     <kernel core> : ndisc_dst_alloc (fib6_run_gc) 
   0,0% (  0,1)   gnome-volume-ma : schedule_timeout (process_timeout) 

Suggestion: Enable SATA ALPM link power management via: 
  echo min_power > /sys/class/scsi_host/host0/link_power_management_policy
or press the S key.