I believe you are wrong.
Phase and polarity must be taken into account.
If the frequency of one is twice the other then over a half cycle of the lower frequency the circuit both absorbs and returns power to the source and you can not just multiply the instantaneous magnitudes to get the power.
There would be no net power delivered to the circuit under these conditions.
That is where power factor comes into play. At times the power delivered is negitive or the circuit feeds power back to the source.
Phase must be taken into account and you can not just multiply instantaneous values or magitudes. . If you take into account the negitive values then of course it would work and I do recognize that a digital circuit can do these computations. . . I DO NOT FOLLOW MANY OF THESE NEWS GROUPS To answere me address mail to snipped-for-privacy@aol.com