Various embodiments are disclosed of a multiprocessor system with processing elements optimized for high performance and low power dissipation and an associated method of programming the processing elements. Each processing element may comprise a fetch unit and a plurality of address generator units and a plurality of pipelined datapaths. The fetch unit may be configured to receive a multi-part instruction, wherein the multi-part instruction includes a plurality of fields. First and second address generator units may generate, based on different fields of the multi-part instruction, addresses from which to retrieve first and second data for use by an execution unit for the multi-part instruction or a subsequent multi-part instruction. The execution units may perform operations using a single pipeline or multiple pipelines based on third and fourth fields of the multi-part instruction.