It might be penny-wise but it certainly is not pound-foolish. In addition don't assume that the screen is always on, think about mp3 playback, pulling you email etc. And finally leakage becomes more and more dominant as the technology shrinks. So the effect of BIG.little will become more apparent as the technology progress.
I hope it will become apparent. I don't think big.little has performed as promised as of yet but if it ever does I will certainly be pleased to be wrong.
MP3 playback and pulling emails are a pretty poor examples though. I could use the performance governor (I know there's power gating on idle but it still uses more power), force all the cores on and still get a day's worth of continuous local MP3 playback while pulling emails is dominated by the radio (e.g., bad reception wrecking battery life).
Both these scenarios would be handled by shutting down all but one core so the power draw will be low, leakage or not. The benefits of big.little wouldn't be apparent here even theoretically.