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Yup! They're certainly not going to chase it down.
 
The cut and paste from the CIC website in bold below, says there will be random assessments done to ensure compliance with the two year relationship condition. Everyone who receives Conditional PR should be prepared to prove their relationship is intact and they are still living with their sponsor (unless of course you fall under one of the exceptions...abuse, death of sponsor, etc.) if they are selected randomly for assessment.

Enforcement and penalties

As a result of the introduction of conditional permanent residence, additional investigations may be undertaken in cases where there is reason to believe that the condition is not being met or has not been met. CIC plans to perform random assessments of the overall level of compliance on an ongoing basis.

The measure also provides another means for enforcement action in instances of marriage fraud, including issuing removal orders to fraudulent spouses on the basis of non-compliance. This could in turn lead to their removal from Canada.
 
I'm very curious to see how this works out. Being the skeptic I am, I see more red tape and backlogs, plus a rash of separations at the two year mark.... but that's just me.
 
Yes, only time will tell... It has proven to be a deterrent to marriage fraud in other countries, as two years is a long time for "fraudsters" to fake it. But I think it has worked other places because it is mandatory that the couple to prove the marriage genuine at the end of two years. I'm not so sure "random" checks will have the same positive impact.