A method, system and program are provided for dynamically reconfiguring a pipelined processor to operate with reduced power consumption without reducing existing performance. By monitoring or detecting the performance of individual units or stages in the processor as they execute a given workload, each stage may use high-performance circuitry until such time as a drop in the throughput performance is detected, at which point the stages are reconfigured to use lower-performance circuitry so as to meet the reduced performance throughput requirements using less power. By configuring the processor to back off from high-performance designs to low-performance designs to meet the detected performance characteristics of the executing workload warrant, power dissipation may be optimized.