Let's see, the tiny amount of L1/2/3 cache currently is dictated by the energy budget of the CPU. Looking at the energy budget of the 4900MQ and the 4960HQ chips, you can take some wild arse guessing to get that the 2 megs of L3 cache sacrificed got back enough to power the 128 megs of L4. Then consider that there is only 64K (yes, kilobytes) of L1 or 256K L2 per core on the Haswell chips, and at 3.9GHz desktop chips you are looking at 84 watts of power dissipated . . . you can start to work out how much of that is due to leakage current from the 6 transistor L1/2/3 cache design.
Let's face it, SRAM isn't tiny, it leaks amps like a sieve at the tiny process size that everything is done at now days, and it's main advantage is that it doesn't take a controller to access and it's bloody fast and the bandwidth can be pretty sizable. A gig of SRAM on die would, I suspect, heat a small room; that much DRAM per core would slow the cores down due to the inherent latency of accessing DRAM.
So, sure, DRAM chips may be cheap, but putting them on the CPU die would be horrid. And SRAM still isn't cheap; either in die space, energy budget, or dollars!