Going by past performance the chances are small that a drop in replacement will work.
The Woodcrest dual core 2006 Mac already had the microcode to run the Clovertown quad core CPUs of 2007. Both CPUs have the same 65nm manufacturing tech.
In 2008 they introduced the die shrink to 45nm on the same LGA 771 socket and the microcode changed. There was no firmware update to the 2006 and 2007 Macs. So using the better CPUs wasn't an option for the older Mac Pros.
The Gulftowns will be using the same LGA 1366 sockets as the 2009 Nehalems but they will have a die shrink from 45nm to 32nm. So nanofrog is right that they will definitely need new micro code. As demonstrated above Apple have never made such updates available retrospectively.
It's different with the Gulftowns though, as they actually
use the same chipset/s (X58/Tylersburg family) as the current models. Intel produces 24 & 36 PCIe lane versions for both SP and DP systems (i.e. 24S/36S & 24D/36D respectively).
They can also be run in tandem. That is, 2x chipsets, even on an SP model to obtain additional PCIe lanes (master + slave config). So far, I've not seen an SP board that does it though, as other board makers opted for the nF200 instead to create an enthusiast/workstation model (it appeals to graphics users on both ends for SLI and CrossFire).
But with the addition of 10G Ethernet (peaks at 1250MB/s), it may occur in the next model, as it's going to need PCIe lanes. PCI located in the chipset, is only good for 133MB/s, so it just doesn't have adequate bandwidth to run it.
The microcode in the existing systems is written for 45nm, so the VID setting is higher. Though it still falls within the 32nm spec (near the upper limit), so that aspect may actually work. It's the core count that may cough up the hairball here, as the coding is different this time (anything that used the 5000 chipsets could use dual or quad cores). I'm not so sure this time.
I do think it's technically possible for a drop in/swap, I'm not expecting Gulftowns to work without additional microcode. Maybe we'll get a nice surprise, and it will. It does have enough going for it, but would require a test subject. Not an inexpensive proposition, and as you mentioned, Apple doesn't update firmware to allow the use of the newest CPU's, even if the hardware is compatible to push the sales of the current line offered.
Those on the PC side will be in much better shape, as the microcode will likely end up available in an update. One advantage to the PC side.

Better support from other board makers.
