Motorola Droid :: Underclocking Rooted Stock?

I have a quick question. A friend and I were discussing whether the Droid underclocks automatically when stock.

We are both rooted and on CM nightlies, however, after experiencing some instability, he suggested bumping my lower speed limit from 250 to 500. I'm still in the process of testing if that resolves the problem.

Question:
Anyway, I was wondering if anyone could provide me with conclusive proof that the Droid does (or doesn't) underclock itself when stock (i.e. without the assistance of setCPU).

Let me rephrase my question:
Does the stock Android OS adjust the processor frequency dynamically as needed (like setCPU does). If so, to what degree (i.e. 250-550 MHZ as needed)?