High performance software generally does divide the system up so that certain cores serve certain roles. i.e IRQ handling etc. This is often done to exploit NUMA architecture, ensuring that memory accesses only happen against the local memory controllers and locally attached PCIE where possible.
If you are going to this point you are rarely if ever concerned with sharing the system with anyone else.
That seems quite silly to me. That wastes a bunch of TDP and likely loses some Turbo.
changing the speed of a cpu is very expensive in time, and can take a couple of ms to complete (of course, most of this is caused by how it is mechanized in the OS).
I agree that HFT applications should not be using deep C states.
[0] Unless you have a misguided feature like C1E auto-promotion on. Fortunately, recent Linux kernels will overriding firmware and turn it off. On Sandy Bridge and possibly newer CPUs with C1E auto-promotion on, resuming from C1 can take many, many milliseconds.
Many high-performance software applications are constrained by network/disk bandwidth, so you would have cores doing no productive work regardless. This allows you to re-deploy those unused cores in other creative and useful ways. Specialization of cores has the added benefit of minimizing lock contention and making it simpler to reason about complex interactions between threads.
With the current growth of CPU leaning towards more and more cores with ever smaller improvements in single core performance, dedicating spare cores for such perm improvements is not at all a bad idea.
For disk I/O, you have absolute control over the number and type of events that may be pending, allowing you to strictly bound resource consumption and defer handling of those events indefinitely with no consequences. Similarly, you can opportunistically use unused disk I/O capacity to bring future I/O events forward with little cost e.g. pre-fetching. The worst case scenario you have to deal with in terms of disk I/O is self-inflicted, which makes for relatively simple engineering.
Network I/O events, by contrast, are exogenous and unpredictable. You often have little control over the timing or the quantity of these events, and the only limit on potential resource consumption is the bandwidth of your network hardware. Not only do you have to handle the worst case scenario in these cases, you also have little control over what a worst case scenario can look like. This leads to very different design decisions and interactions with the I/O subsystem versus disk.
I think this is mostly for disk I/O and the userspace component still communicates with the kernel that controls the hardware and performs permission checks.