Ok, I belive the problem has been fixed. I rebooted into TWRP and fixed permissions, rebooted, set the max freq to 1.5GHz.
I ran SetCPU and on the "time states" page, it lists 1.5GHz as being used WOOHOO!
Also, the frequencies now automatically downclock. Earlier, it would just sit at 1.2GHz no matter what!
I'll mark this thread as solved.
Cool, do some more reading before messing with it anymore.
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