None of them are 'overclocked' so we shall clear that up to start with.
The 1.1 runs at the maximum base frequency specified by Intel @6w
The 1.2 and 1.3 both run below their maximum base frequency and thus require less power 5-5.5w.
What you need to factor in is that although the chips have 1.1/1.2 and 1.3 base frequencies they can all underclock themselves to conserve power when not needed.
The 1.2 and 1.3 make the logical choice due to the reducion in wattage required to perform at its base frequencies.
5Y31
Processor Base Frequency 900 MHz
TDP 4.5 W
Scenario Design Power (SDP) 3.5 W
Configurable TDP-up Frequency 1.1 GHz
Configurable TDP-up 6 W
Configurable TDP-down Frequency 600 MHz
Configurable TDP-down 3.5 W
5Y51
Processor Base Frequency 1.1 GHz
TDP 4.5 W
Scenario Design Power (SDP) 3.5 W
Configurable TDP-up Frequency 1.3 GHz
Configurable TDP-up 6 W
Configurable TDP-down Frequency 600 MHz
Configurable TDP-down 3.5 W
5Y71
Processor Base Frequency 1.2 GHz
TDP 4.5 W
Scenario Design Power (SDP) 3.5 W
Configurable TDP-up Frequency 1.4 GHz
Configurable TDP-up 6 W
Configurable TDP-down Frequency 600 MHz
Configurable TDP-down 3.5 W
(Source: intel)
One more question: A higher base frequency does not mean that the power consumption is higher while the processor is idle?