> There are pros and cons about early optimization, actually.
> Generating extremely optimized IL very early can actually tie up
> subsequent passes.  For instance, loop unrolling and vectorization.
> There are others in the literature.

Sure, in the sorts of examples you mention where there's a level of
"globality" to it.  But I don't see it in the types of things that
fold does.  How could it ever be better to leave "a - a" in the tree
instead of "0"?

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