I know in my bios I can choose to disable the dedicated card and use integrated upon start up, and windows is good about reloading the right driver, but I would assume the dedicated card is still consuming idle power. I only did it a few times to test the performance difference between the onboard 3300 and a 3650 about a year ago.
I thought about doing something like that, but I think you're right. That being said, the 785G integrated GPU is a 4200, which if I'm not mistaken is fundamentally the same as the integrated GPU that you're referring to, which uses the same driver as my 4870.
As a side note, now that I think about it even if I could figure out how to power down the dedicated GPU, I would have the problem of switching outputs. In a laptop this isn't a problem as the interoperation of an integrated GPU alongside a discrete GPU is still integrated into the platform, and consequently a laptop has a dynamic video output. That is to say, both chips output via the same channel. So if you're outputting to the laptop screen, either one automatically sends video signal to the laptop screen. If you're plugged into an external monitor, I believe that either GPU would output from that same port.
I'm not sure if you had that problem, LoneNinja, but also I'm pretty sure the 3650 is compatible with Hybrid Crossfire, which means that it's at least possible for both GPUs to use the same video output.