Several vendors claim to optimize intricate power circuits, switching phases on and off as needed. MSI's implementation (which centers on a relatively-conservative eight phase hardware design) is complemented by an LCD readout indicating exactly how many power phases are being used at any given time.
Given that the Core i5 and Core i7 processors launching next month are 95W parts, we suspect that MSI's decision to go eight-phase, even when competing vendors are deploying as many as 24, is probably a safe bet. We've already taken a pre-production i5 up past 4.1 GHz on this board without any sort of issue. And we know from discussions with Intel that lower phase counts, designed properly, can be just as effective as more complex solutions.