I attended a presentation today at IBM and there was a bit talk about a new binary optimizer called Optimus. At the moment it is for COBOL only but in the future will support C/C++ and PL/1. It basically scans an old module and creates a new one replacing the old instructions with new ones optimized for the architecture level of your machine. That's pretty cool stuff. No need for re-compiles. I assume it's using technology ripped from the Java JIT.

Here's a link to a rather shabby webpage which hopefully will be improved soon https://www.ibm.com/developerworks/community/groups/community/BinaryOptimizer.

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