My personal feeling about term frequencies on pages is that it's like chasing your tail. Whatever way Google uses term frequency measurements is so wrapped up with a bunch of other machine learning algorithms that you couldn't possibly come to any real conclusions about its employment as a stand alone factor.
It's time to jump off the frequency bandwagon. As Matt Cutts says, Google is moving from "strings to things"--meaning a more holistic understanding of the page is where things are going.