No......
The FPU and ALU are two types of execution units and operating on 2 different types of data. The Arithmetic Logic Unit works on integers while the Floating Point Unit works on FP data. The P4's low FP performance is because it has weak FPU's. It's ALU is actually quite impressive. One complex 32-bit ALU and 2 double-pumped, skewable simple ALU's. The next revision, Prescott, will have double-pumped 32-bit ALU's (don't know if it's skewable or not). I'm not sure whether the complex ALU will be double-pumped or not.