I've had "always on mobile data" turned off for the past month...and honestly I haven't experienced any issues with syncing. Work emails through exchange still arrive instantly, Gmail seems to update virtually instantly as well. I have turned Facebook auto-sync off (since there was originally an issue causing FB sync to keep your phone from sleeping)...but I just open FB anytime I want to look at it anyway...I guess maybe if you have Friend Stream it might mess with that?
But anyway...in my experience, I haven't found any noticable changes in terms of data...and YES, the gain in battery life from turning this off seems to be HUGE.