I'd say both, though low-level is more specific to compiled Common Lisp implementations rather than general for all of lisp family. Specifically, ANSI Common L

I'd say both, though low-level is more specific to compiled Common Lisp implementations rather than general for all of lisp family. Specifically, ANSI Common Lisp is equipped with a function called DISASSEMBLE, and on many implementations it will provide you not only with plain assembly dump, but also with comments regarding said assembly, for example a comment specifying "we're calling X here", "this is handler for single parameter, and this is for multiple parameters" (in case of optional arguments to function)