To achieve higher processor performance requires greater synergy between advanced hardware features and innovative compiler techniques. Recent advancement in compilation techniques for predicated execution has provided significant opportunity in exploiting instruction level parallelism. However, little research has been done on how to efficiently execute predicated code in a dynamic microarchitecture. In this paper, we evaluate hardware optimizations for executing predicated code on a dynamically scheduled microarchitecture. We provide two novel ideas to improve the efficiency of executing predicated code. On a generic Intel Itanium processor pipeline model, we demonstrate that, with some microarchitecture enhancements, a dynamic execution processor can achieve about 16% performance improvement over an equivalent static execution processor.