Haswell Goes Fanless@ 2013/07/24
I went through the SDP discussion earlier this year. But in short, Intel calculates TDP by looking at average power through a set of benchmarks that tend to include some of the worst case offenders on a desktop or notebook PC. The SDP thermal rating is specific only to Y-series parts and uses a lesser set of benchmarks, more appropriate for a thin tablet chassis, to determine average power. If you run Furmark on one of these parts and the OEM building the system does nothing to thermally manage the platform, it'll dissipate 11.5W. If you use it like a tablet, you should see 4.5W (or 6W depending on the SKU) as the average power dissipated. Realistically the 11.5W value can be boosted up to, but not sustained.
Moving from 6W SDP down to 4.5W SDP is a big deal because it enables something huge: fanless Haswell tablet designs. At 6W Intel recommends some sort of active cooling within the chassis, but at 4.5W it's possible to go completely fanless.