Erm, the Pentium M low voltage has a lower voltage?
Usually, low-voltage parts are specially picked for their abilities to run at lower than normal voltage. Quite often they're the best dies from the centre of the wafer. Also, they sometimes have lower operating frequencies than their higher-voltage conterparts. For the Pentium M (130nm parts), the normal voltage chips run 1.3-1.7GHz (1.388-1.484v), the low-voltage ones run 1.1-1.3GHz (1.180v) and the ultra low voltage ones run 900MHz - 1.1GHz (1.004v). The TDP for the P-M 1.3 LV part is a mere 12 watts (compared to 115 watts for the 3.6 Prescott).
yea, the LV (and ULV) are just clocked down so they can drop the voltage.
Banais LV chips ran from like 900-1.3, and used either 1.0V or 1.18V. And have like a 7 and 12W TDP respectively.