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I worked for a guy who wouldn't buy even modern machines for developers using the logic "if they write code that runs really fast on a 486, think how fast it'll
by thwarted 18y ago
I worked for a guy who wouldn't buy even modern machines for developers using the logic "if they write code that runs really fast on a 486, think how fast it'll run on a pentium" (yes, this was that long ago). This completely ignored that we couldn't use SIMD instructions/MMX or chip specific optimizations which exist because they are significant faster and more efficient than the alternatives.
Even if you use the latest and greatest machine for development, by the time you release the machine is out-dated in some respect.