I would definitely go with as many cores as possible even if each is somewhat smaller.
Most frustrations as a developer (and a computer user in general) come not from the time it takes to do an operation but rather with the slowing-to-a-churn of other things as a major operation is taking place, or with the jittery start-and-stops of fluent movement that occur.
Considering that most IDEs run a crapload of threads, and you are also probably using other applications, more cores are better and reduce the switching load on the computer.
For example, I typically run:
1) Eclipse IDE, which keeps the console for the program that is running
2) Another copy of Eclipse IDE or the application I am testing
3) A database server
4) Some other daemons.
I would much rather have all four run at the same time then have them run faster but have to switch.