Of course, the total power consumption of your overall system will also be affected by all the other stuff external to your chip...
I think more stress should be put on this point, not just a footnote. Most "failures related to power dip" I have seen have been related to the uC doing something to an external component that created a huge transition spike. Also, I tend to think that most uC projects consume more energy in the external components than in the uC.

The main influence on power consumption is the clock frequency
an often overlooked fact!. I was working at a major cell phone manufacturer and a drive was going on to reduce battery consumption (increase time between battery recharge requirement). At a meeting where it was discussed to change from C to C++ I asked "how much overhead will that add", the answer was "we just use a higher clock frequency" DUH!

Erik