1. A method of optimizing a performance measure for a cluster of computing components in a distributed computing system, comprising: creating different component power models of power consumption versus the performance measure for the computing components; adding the component power models to derive a cluster power model; calculating an optimum set point for the performance measure which corresponds to a power limit on the computing components using the cluster power model; and setting individual power budgets for the computing components based on the optimum set point and the component power models such that each of the computing components operate at a generally equal performance level according to the performance measure, wherein said setting includes allocating a greatest power budget to a least efficient one of the computing components.