Instead of a JIT being the next step, did you consider vectorizing the execution? Amortizing the cost of dispatch over multiple packets means that under heavy

Instead of a JIT being the next step, did you consider vectorizing the execution? Amortizing the cost of dispatch over multiple packets means that under heavy load, the performance of the system should be fairly close to what you could JIT, but the system would be much more simple. Of course, this only helps with the worst case where a backlog is starting to build, but it at least reduces the worst case.