http://gcc.gnu.org/bugzilla/show_bug.cgi?id=50213
--- Comment #5 from Richard Guenther <rguenth at gcc dot gnu.org> 2011-09-07 09:08:16 UTC --- It will of course no longer combine offsets that way, like for p_2 = p_1 + 4; loop p_4 = MEM[p_2 - 4]; so it's clearly not a win-win situation to base the decision on loop depth.