A method of designing a circuit is described. A netlist for a circuit is generated. An analysis of the netlist is then executed to generate a set of cell instance performance values that characterize the performance of multiple gate instance-level components of the circuit in view of a selected parameter, such as circuit timing, circuit power consumption, or circuit area. Relying upon the set of cell instance performance values, a problematic component within the circuit is identified for replacement. A set of functionally equivalent candidate components are then identified. Each candidate component is analyzed with respect to the selected parameter. The analysis identifies an optimally performing candidate component. An instance of the optimally performing candidate component is then substituted into the netlist for the problematic component to improve the performance of the circuit.