I suspect this will give Altera an important edge, especially when they master to build it in: a Power System on a Chip Inside a Chip...
I don't believe Altera should aim to be a significant player in power though and should maintain a certain level of independency for Enpirion. Not only to be able to power competitors FPGA's but also through the channel partners. An independant channel will show more focus and not stop at the FPGA.
Yes, I work for such a channel and I was already designing in Enpirion before they could mass produce their first product.
One of the most important and relatively less researched or developed topics is the on-chip, in-package, etc., supply. I thought at the time (2004-6, while at Spansion) that Enpirion had a very good approach to a significantly more efficient supply. The fact that their technology will be on FPGAs will probably boost the use of the FPGA as part of the final product.