In this paper, we present an analysis of some of the fundamental power-performance tradeoffs in processors that employ adaptive techniques to vary sizes, bandwidths, clock-gating modes and clock frequencies. Initial expectations are set using simple analytical reasoning models. Later, simulation-based data is presented in the context of a simple, low-power super scalar processor prototype (called LPX) that is currently under development as a test vehicle. There are three fundamental issues that we attempt to address in this paper: (a) Does dynamic adaptation - in clocking or microarchitectural resources - help extend the power-performance efficiency range of wider-issue superscalars ? (b) What factors of power and power-density reductions are within practical reach in future adaptive processors ? (c) Does the presence of dynamic adaptation modes cause unacceptably large, worst-case power (or current) swings in affected sub-units ?