Now that I think of it, going from the SGX543 to the SGX554 there has to be an inherent architecture change which can also help in performance. However, the inherent argument of mine still stands, if the SGX554 (assuming no architecture change) is just double everything of the SGX543, why not use a single SGX554 in the iPhone 5 (assuming you want same performance but less space consumption hence lower TDP)?
However, assuming more performance with the extra core in the iPhone 5, why not simply clock the SGX554 higher? Same 20% higher to make up for the lost core.
Could have, but the risk factor is not the issue. There was a risk factor with the A4, A5 and A6X chips since they are all new tech chips. The only safe bets have been the A5X and A6 (half a safe bet). Considering the iPhone 5 gave only a slight pixel increase (960x640 to 1136x640), the SGX543 MP2 still can easily handle such resolution. However, assuming Apple wanted that extra performance boost to keep up with game dynamics it makes since Apple added the extra core. I for one would have just used an SGX554 MP2 and give extra graphics processing and used the extra space in the A6 (since one core would have been missing) to lower the chip footprint. Perhaps even add a bit more L1 & L2 caches giving a enhanced CPU capacity. More RAM (1536 MB would have been nice; not that I'm complaining ay 1024MB) could have been added.