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Power - how many Watts does it need? Speed - how quickly can it perform operations?
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You can get low power with a simple design at a low clock. This definitely will not help achieve high performance later.
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Clock rate isn't the only factor. A design can be power hungry at a low clock rate if designed badly, and if it it is... you're never getting that think running fast.
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One could say "Optimize for efficiency first, then performance".
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