1. A method, in a data processing system, for processing an instruction in a processor of the data processing system, comprising: receiving, in the processor of the data processing system, an instruction, the instruction including power/performance tradeoff information associated with the instruction; determining, by the processor, power/performance tradeoff priorities or criteria, specifying whether power conservation or performance is prioritized with regard to execution of the instruction, based on the power/performance tradeoff information; and processing, by the processor, the instruction in accordance with the power/performance tradeoff priorities or criteria identified based on the power/performance tradeoff information of the instruction.