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So you suggest cache misses corrected by a instruction-workload bias (which should be again biased by how "hot" the instructions remain)?

EvilOfCacheMiss = TimeOfMemoryFetchCycles - CyclesSpendDoingInstructions /TimeOfMemoryFetchCycles

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More like TimeOfMemoryFetchInCycle - CyclesSpentDoingInstructions

But yeah, sounds like a useful metric to me.

This discussion reminded me of a formula for calculating the average cost of a cache miss in this pretty cool paper ("An Analysis of the Effects of Miss Clustering on the Cost of a Cache Miss").

In particular, see Equation 4: http://researcher.ibm.com/files/us-viji/miss-cluster.pdf

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