Although I'm not a big fan of CUDA, it does have an advantage in that it combines both worlds in a single language. This does permit optimisations that cross devices boundaries, but I have no idea whether the CUDA compiler does any of this.
Apologies for tooting my own horn, buI have been working on a language that can optimise on both sides of the CPU-GPU-boundary: http://futhark-lang.org/ (Although it is more high-level and less graphics-oriented than what I think the author is looking for.)